Inflation ________.

A. reduces the buying power of people on fixed incomes
B. increases the buying power of everyone's income
C. reduces the buying power of everyone's income
D. increases the buying power of incomes that rise more slowly than prices

Answer: A

Economics

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________ refer to the ordinary fluctuations of real GDP around its long-run trend

Fill in the blank(s) with correct word

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Which of the following is part of an economic model?

A) preferences of economic agents B) data C) norms D) opinions

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