When inflation occurs,
A) everyone (or almost everyone) is made worse off.
B) only wealthy people can maintain their previous consumption levels.
C) the cost of living rises.
D) the prices of all goods rise in equal proportions.
E) the purchasing power of money declines.
E
Economics
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A Keynesian forecast of economic growth next year is likely to focus on
A) money demand. B) money supply. C) velocity of money. D) investment spending plans.
Economics
One assumption that distinguishes short-run cost analysis from long-run cost analysis for a profit-maximizing firm is that in the short run,
a. output is not variable. b. the number of workers used to produce the firm's product is fixed. c. the size of the factory is fixed. d. there are no fixed costs.
Economics