Wealth is redistributed from creditors to debtors when inflation was expected to be
a. high and it turns out to be high.
b. low and it turns out to be low.
c. low and it turns out to be high.
d. high and it turns out to be low.
c
Economics
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Refer to Figure 9.1. Assume the economy is initially at point A. The initial change resulting from a recession caused by an increase in oil prices is best represented by which short-run equilibrium combination of price level and real GDP?
A) P2; Y2 B) P3; Y3 C) P2; Y3 D) P3; Y2
Economics
Every economic system must decide
a. what and how much to produce. b. how to produce. c. how to distribute goods and services to the population. d. All of these.
Economics