When Haley states that inflation by itself always reduces the real return on her saving, she
a. has expressed the idea of the inflation tax.
b. has expressed the idea behind menu costs.
c. has committed the inflation fallacy.
d. has expressed the idea behind shoeleather costs.
c
Economics
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If the above figure illustrated a perfectly competitive industry, the equilibrium market price would be equal to
A) $4. B) $7. C) $9. D) $11.
Economics
Mutual interdependence means that:
A. A firm's behavior is affected by other firms' actions B. A firm's profits are affected by other firms' entry or exit C. A firm's costs are affected by other firms' costs D. A firm's revenues are affected by other firms' demand for its product
Economics