Suppose that over the last year the price of copper increased from $1.70 a pound to $1.79 per pound. Over the same time a measure of the overall price level increased from 300 to 309 . The price of copper increased by
a. less than inflation, and this means it became relatively less scarce.
b. less than inflation, and this means it became scarcer.
c. more than inflation, and this means it became scarcer.
d. more than inflation, but this doesn't necessarily mean that it become scarcer.
c
Economics
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Which of the following could decrease unemployment and inflation simultaneously?
A) a decrease in oil prices B) contractionary monetary policy C) an increase in the real wage D) expansionary monetary policy
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Of the three motives for holding money suggested by Keynes, which did he believe to be the most sensitive to interest rates?
A) the transactions motive B) the precautionary motive C) the speculative motive D) the altruistic motive
Economics