The claim that inflation is necessary for development is based on the idea that
a. rapidly rising demand is necessary to spur productive activity
b. the problems brought on by inflation will attract foreign aid
c. the process of structural change naturally forces prices up in some sectors, while other sectors'prices do not fall
d. higher prices will force people to work harder
e. none of the above
C
Economics
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What will be an ideal response?
Economics
Refer to Figure 2-6. If the economy is currently producing at point C, what is the opportunity cost of moving to point B?
A) 13 thousand hammers B) 30 thousand wrenches C) 23 thousand hammers D) 10 thousand wrenches
Economics