Borrowers who took out mortgages in the 1960s:
A. were harmed by the unexpected low inflation rates of the 1970s.
B. benefited from the unexpectedly high inflation rates of the 1970s.
C. were harmed by the unexpectedly high inflation rates of the 1970s.
D. benefited from the unexpected low inflation rates of the 1970s.
Ans: B. benefited from the unexpectedly high inflation rates of the 1970s.
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Restrictive labor law can create two different groups
A. insiders, who enjoy long-term stable employment, and outsiders, who end up with high unemployment rates. B. insiders, who end up with high unemployment rates, and outsiders, who enjoy long-term stable employment. C. employers, who bear the costs of restrictive labor laws, and workers, who enjoy the benefits of restrictive labor laws. D. employers, who enjoy the benefits of restrictive labor laws, and workers, who bear the costs of restrictive labor laws.
A tariff is a tax
A) on an exported good. B) on an imported good. C) imposed on all traded goods. D) imposed on people's income. E) imposed on the difference between the value of the goods a firm imports and the value of the goods it exports.