The Confederate government
(a) failed to increase its external debt and thus produced domestic inflation.
(b) did not make the Confederate currency legal tender.
(c) failed to raise sufficient resources because of unwillingness to increase
the supply of paper money.
(d) did none of the above.
(b)
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Bundling of products becomes _____, if the valuations of different customer groups are _____
a. more profitable; positively correlated b. less profitable; perfectly elastic c. less profitable; positively correlated d. more profitable; perfectly elastic
The observed unemployment rate is less than the natural rate of unemployment if:
a. the inflation rate is lower than expected. b. the reservation wage is adjusted to account for higher inflation. c. real wage increases with increase in prices. d. reservation wages go up with the rate of inflation. e. the inflation rate is higher than expected.