?In the long run, wages and prices are considered to be:  

In the simple Keynesian model of the determination of income, the price level is assumed to be

A) exogenous and to gradually change. B) endogenous and to gradually change. C) exogenous and to remain constant. D) endogenous and to remain constant.

High and unexpected inflation has a greater cost

a. for those who borrow than for those who save. b. for those who hold a little money than for those who hold a lot of money. c. for those who have fixed nominal wages than for those who have nominal wages that adjust with inflation. d. All of the above are correct.