The situation in which the money a person receives does not increase even though prices rise.
a. inflation
b. economic system
c. fixed income
d. deflation
Answer: c. fixed income
Economics
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Liquidity can
A) not be created. B) be created by borrowing short and lending long. C) only be created by the government. D) be created by borrowing long and lending short.
Economics
If the social cost of producing a good or service exceeds the private cost
A) the sum of consumer surplus and producer surplus is maximized. B) a positive externality exists. C) the market achieves economic efficiency. D) a negative externality exists.
Economics