The Employment Act of 1946 directed the federal government to pursue the three objectives of maximizing employment, production, and purchasing power

For a person to have a comparative advantage in producing a product, he must be able to produce that product at a higher opportunity cost than his competitors

Indicate whether the statement is true or false

Inflation is harmful to society because it often

a. causes consumers' purchasing power to decline b. causes sellers' costs to increase c. causes nominal wages to fall d. causes purchasing power to be redistributed in haphazard ways e. has no effect at all on anyone's purchasing power