In the basic two-period model,
A) credit markets have frictions.
B) the government borrows at a lower interest rate than do consumers.
C) some consumers will always default on their debts.
D) consumers do not default on their debts.
B
Economics
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An inflation rate that exceeds 50 percent per month is referred to as
A) hyperinflation. B) destructive deflation. C) superflation. D) anticipated inflation.
Economics
To an economist, total costs include
A) explicit, but not implicit costs. B) implicit, but not explicit costs. C) explicit and implicit costs. D) neither explicit nor implicit costs.
Economics