For most people, the problems of inflation are caused by the fact that
A. the inflation rate causes the purchasing power of money to increase.
B. all prices change so there is no way to protect themselves against the decline in their wealth.
C. the inflation is anticipated.
D. the inflation is unanticipated.
Answer: D
Economics
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According to monetarists, which of the following would be most important for the control of inflation?
a. a steady increase in federal expenditures b. the imposition of price controls c. keeping the growth rate of the money supply low and steady d. a steady increase in the size of the budget deficit
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The equilibrium price of labor is called:
A. the wage. B. the leisure trade-off. C. income, plus benefits. D. opportunity cost.
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