Which of the following statements is always true when inflation occurs?
a. Lenders benefit and borrowers suffer.
b. Borrowers benefit and lenders suffer.
c. The international competitive position of the country is negatively affected.
d. The domestic money loses purchasing power.
e. None of the above is true.
.D
Economics
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If incomes in the United States increase, other things equal, then U.S. _____
a. imports increase and exports remain constant b. exports increase and imports decrease c. imports decrease and exports decrease d. imports remain constant and exports increase e. net exports remains constant
Economics
If butter has an income elasticity equal to 0.75, then butter is an inferior good
a. True b. False Indicate whether the statement is true or false
Economics