The costs of inflation are
a. shoeleather costs and menu costs
b. arbitrary redistributions of wealth.
c. increased variability of relative prices.
d. All of the above.
d
Economics
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Based on our understanding of the wage setting equation, which of the following will not cause a reduction in the nominal wage?
A) an increase in unemployment B) a reduction in the expected price level C) a reduction in expected productivity D) all of the above E) none of the above
Economics
If Joel buys ten floppy disks, which are worth a total of $30 to him, and he pays $1 a disk, how much consumer surplus does he derive?
a. $24 b. $15 c. $20 d. $10 e. $2 from each floppy disk
Economics