The present value of a promise to pay $5,000 every year forever when the prevailing interest rate is 10 percent equals

To say that inflation is a monetary phenomenon seems to beg the question

A) Why does inflationary monetary policy occur? B) Why do politicians seek reelection? C) Why is the Fed independent? D) Why does the U.S. Treasury print so much money?

Ransom E. Olds

A. was the first automobile manufacturer to use a division of labor and an assembly line. B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to dominate the industry. D. All of the choices are true.