If all prices, including the price of beef, increase by 3%, then the relative price of beef has ________ and inflation ________.
A. remained constant; has not occurred
B. remained constant; has occurred
C. increased; has not occurred
D. increased; has occurred
Answer: B
Economics
You might also like to view...
Katie had a before-tax income of $40,000 and paid taxes of $6,000 . Rinji had a before-tax income of $35,000 and paid taxes of $5,250 . Based on this information, the tax system is
a. There is insufficient information to answer the question. b. progressive c. based on the benefits received d. regressive e. proportional
Economics
Given an initial deposit of $5,000 and a legal reserve requirement of 25%, the amount of money potentially created by the banking system is
a. $15,000 b. $20,000 c. $25,000 d. $10,000 e. $30,000
Economics