Inflation over time necessarily makes consumers worse off
Indicate whether the statement is true or false
False. Wages also increase over time. Workers may earn the price of some goods in less time than in the past.
Economics
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In the above figure, if the price of milk rises, the budget line
A) rotates outward and the slope becomes steeper. B) shifts inward and its slope does not change. C) rotates inward and the slope becomes steeper. D) rotates inward and the slope becomes more shallow.
Economics
The "loanable funds market" is a term used by economists to describe the
a. demand for goods and services by households. b. market that includes resources such as labor and capital. c. supply of goods and services by firms. d. market that coordinates the borrowing and lending of individuals and firms.
Economics