When the inflation rate rises, the purchasing power of nominal income:
a. remains unchanged.
b. decreases.
c. increases.
d. changes by the inflation rate minus one.
b
Economics
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A firm's rent is a fixed cost. If the rent increases, then in the figure above ________ upward
A) only curve A shifts B) only curve B shifts C) only curve C shifts D) both curves A and C shift E) both curves B and C shift
Economics
The economic efficiency of any process will be evaluated by
A) the proportion of marginal to non-marginal costs. B) the ratio of work done to energy supplied. C) comparing what is gained from what is sacrificed. D) the relationship of supply to demand.
Economics