Inflation is the hardest on those living on fixed incomes
a. True
b. False
Indicate whether the statement is true or false
True
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In which of the following situations might you expect expansionary monetary policy to reduce the unemployment rate?
A) if changes in monetary policy are unanticipated B) if expectations are rational C) if actual inflation is lower than expected D) if actual inflation is higher than expected
Which of the following is an example of opportunity cost?
a. The Chinese food that you give up when you choose to eat Italian food. b. The tuition that you pay to attend college. c. For a professor of economics, the pleasure that he or she derives from teaching economics. d. Sweets given up by a person who would never eat them even if he or she could. e. The price paid for a ticket when you go for a movie.