During periods of inflation:
a. everyone's real income rises.
b. those people who have fixed incomes benefit.
c. those people whose nominal income rises faster than the general price level benefit.
d. those people who enter long-term wage agreements benefit.
e. those people who hold a lot of cash benefit.
c
Economics
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Economic growth is defined as
A) an increase in the nation's population. B) a sustained expansion of production possibilities. C) an increase in the wage rate. D) a decrease in the rate of inflation. E) an increase in employment.
Economics
When voluntary exchange takes place, both parties gain from the exchange
Indicate whether the statement is true or false
Economics