Over the past 90 years or so, the inflation rate has
a. generally increased
b. been positive in most years
c. stayed low
d. been negative in most years
e. dramatically increased
B
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If inflation is higher in the home market, what is expected to happen to the real value of the home currency as time passes?
What will be an ideal response?
Improved technology has reduced the risk of grain loss during storage. If wheat farmers expect wheat prices to rise substantially in about four months from now, which of the following is likely to be true?
a. The current supply of wheat will decline, as farmers store wheat in anticipation of the higher prices. b. The price of wheat breads is likely to decline in the future. c. The expectation of higher prices in the future is unlikely to have any impact on current wheat supply. d. The supply of wheat is likely to increase immediately.