Price controls date back to
A. World War II.
B. the U.S. Revolutionary War.
C. thousands of years, at least back to ancient Babylonia.
D. the 1970s.
E. the last 20 years.
Answer: C
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A technique for implementing industrial policies that probably worsened the effects of the 1997 crisis was
A) directed credit. B) protection from imports. C) export subsidies. D) research subsidies.
If a lender expects inflation to be 5 percent, and after a loan is made, actual inflation is 10 percent, which of the following will be true?
a. The lender will receive a lower real interest rate than he expected. b. The loan will be repaid with dollars that are worth more than the lender expected. c. The nominal rate of interest can be expected to fall in the future. d. The lender will gain at the expense of the borrower.