The "true" costs of inflation are:
A. lower relative prices.
B. reduced economic growth and efficiency.
C. a higher overall price level.
D. higher relative prices.
Answer: B
Economics
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Draw a graph to illustrate the effect of an increase in demand on the price and quantity in a market
What will be an ideal response?
Economics
In an auction where the bidders values are $400, $500, $650, $800 and $850, the highest two bidders form a bid-rigging cartel. What would be the winning bid in this auction?
a. $501 b. $651 c. $801 d. $846
Economics