Which of the following statements is most correct?
A. Money growth is the result of inflation.
B. It is impossible to have high, sustained inflation without monetary accommodation.
C. There is no clear link between high, sustained inflation and the monetary aggregates.
D. The current rate of inflation is the result of money growth.
Answer: B
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The price that buyers pay after the tax is imposed is
A. $24 B. $8 C. $16 D. $10
Suppose that a hog-producing firm has been dumping its wastes into the local river. The government taxes the sale of hogs to pay for the cost of the river cleanup. As a result
a. more hogs are produced and the price falls b. more hogs are produced and the price increases c. fewer hogs are produced and the price falls d. fewer hogs are produced and the price increases e. quantity produced doesn't change but the price increases