1. Inflation is a rise in all prices over time A. True B. False 2. Inflation is a rise in the average price level over time A. True B. False 3. Inflation that is higher than expected will help a lender and hurt a borrower A. True B. False
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1. Inflation is a rise in all prices over time
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- Ongoing inflation does not automatically reducemost people’s incomes becausea. the tax code is fully indexed for inflation.b. people respond to inflation by holding less money.c. wage inflation goes together with price inflation.d. higher inflation lowers real interest rates.If inflation is anticipated A. it is costless to society B. debtors gain C. it costs less to society than if unanticipated D. creditors gain1) Whether you gain or lose during a period of inflation depends on: a) how the price increases affect government purchases of goods. b) whether the economy is expanding or contracting. c) whether you save or not. d) whether your income rises faster or slower than prices of the things you buy. 2) A real wage that does not keep pace with inflation implies: a) a decrease in purchasing power. b) a decrease in nominal wages. c) a decrease in nominal wages after inflation. d) an increase in the inflation adjusted real wage.
- Which of the following is not an economic effect of inflation? a. None O b. Difficulty in doing long term contracts c. Savings increases consumption decreases O d. Income distribution in favour of borrower e. Decrease in purchasing power of income.Which of these is not a negative effect of inflation? a. It lowers down the value of money b. It rises the level of employment c. It increases the price of goods and services d. It lowers down the purchasing power of peopleWhich statement best describes U.S. inflation between 1982 and 2000? A. It was virtually nonexistent. It was consistently high, often climbing into the double digits. B. It was widely variable, swinging from zero to over 10%. C. It was neither very high nor very low.
- Which of the following statements is TRUE? A. When petroleum prices increase due to war in Ukraine this will cause demand-pull inflation B. If Jane gets a wage increase of 4% but inflation is 5%, her real income decreases C. None of the above D. John is a banker on a fixed income, this means he will not be affected by high inflation rates1.Suppose people expect inflation to equal 3 percent but in fact, prices have risen by 5%. Describe how this unexpectedly high inflation would help or hurt these individuals? The US government A homeowner with a fixed-rate mortgage Union Worker in the second year of a fixed raise labor contract. A college that has invested some of it endowment in government bonds. BanksIf borrowers and lenders anticipate that the rate of inflation will be 5%, but instead it turns out to be 3%, which of the following is likely to occur? Select one: a. The real interest rate is higher than expected. b. Lenders wish that they had made fewer loans. c. Borrowers wish that they had borrowed more money. d. Insufficient loans will have been made by lenders to maintain profit levels.
- to measure inflation? a.) consumer price index b.)demand -supply curve c.) stagnation d.)inflation rateWhich of these words or phrases do not describe what inflation is? a.Decrease in price level b.General prices c.Over a period of time d.Sustained increase in prices52. Retirees have their benefits adjusted annually by the to compensate them for inflation. A. wage inflation rate B. price inflation rate as measured by the PPI C. price inflation rate as measured by the GDP deflator D. price inflation rate as measured by the elderly person's index