Which of the following is true of inflation?
a. It is an increase in the general price level of goods and services.
b. The purchasing power of money increases as the result of inflation.
c. Inflation is similar to interest payments on future money income, such as pensions and receipts from outstanding loans.
d. Inflation has no effect on real income.
a
Economics
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What is another named for the production possibilities curve?
a. production possibilities border b. production possibilities frontier c. production possibilities wall d. production possibilities turn
Economics
In the long run, firms in monopolistic competition become price takers
Indicate whether the statement is true or false
Economics