Under what circumstances does inflation cause no harm to either lenders or borrowers?
a. When inflation equals 0.
b. When inflation equals the historic mean.
c. When inflation equals the inflation of the year before.
d. When there is deflation.
e. When the actual inflation rate equals the expected inflation rate.
.E
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We may see government supply social work internally rather than through private firms because
a. it is a public good b. it is difficult to monitor the quantity and quality of social work provided c. private firms would seek to cover their costs d. a government bureau would maximize its budget e. there is a great demand for such services
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and low inflation. C. high economic growth and low inflation. D. low economic growth and high inflation.