Homework Answers
Only statement D. Is false since instead of hyperinflation Canada is on verge of deflation with sharp decrease in demand because of COVID 19 and crash in oil prices, statement A is correct, statement B defines inflation, Statement C is correct since worker will lose as they will be earning lesser money in real terms whereas owner will gain as it is paying lesser.
Hence,Option D is false
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Which of the following is a FALSE statement? O A. If the inflation rate is positive,...
If the Bank of Canada were to miscalculate the NAIRU (non-accelerating inflation rate of unemployment) as...
If the Bank of Canada were to miscalculate the NAIRU (non-accelerating inflation rate of unemployment) as being 10% when in fact it was 12%, it might cause O A. consumers to spend more than they intended, because the Bank of Canada misled them about the unemployment rate. O B. a reduction in the natural rate of unemployment, because it would be allowing inflation to occur. O c. a one-time reduction in unemployment, because of a one-time increase in the money...
Below is a list of potential problems that inflation might cause. Use the space on the...
Below is a list of potential problems that inflation might
cause. Use the space on the left to name each of these with the
terms used in chapter 8.
___________ Lenders and workers are reluctant
to help firms produce output because the real value of future
dollar payoffs is unclear.
___________ Workers make decisions
on the basis of nominal rather than real wage changes.
____________ Unexpected inflation reduces
the real value of loan repayments.
____________ Firms cannot
distinguish whether there is a...
discussion:2 Effects of Unemployment and Inflation This Discussion focuses on how to measure the cost of...
discussion:2 Effects of Unemployment and Inflation This Discussion focuses on how to measure the cost of living and rate of unemployment in the economy. Specific discussion areas include the various forms of unemployment and how they are measured, debates on measuring unemployment rate, and the imperfections of official unemployment rate. Moreover, consumer price index (CPI), rate of inflation, and their impacts on the cost of living. Read Chapter 8, and remember to include references and links to the websites that...
3. “Inflation is quantitative measure of the rate at which the average price level of basket...
3. “Inflation is quantitative measure of the rate at which the average price level of basket of selected goods and services in an economy increases over a period of time." a) Explain demand pull inflation and discuss two causes of it. b) Discuss three effects of inflation.
A supply shock is A. an increase in the rate of inflation as a result of...
A supply shock is A. an increase in the rate of inflation as a result of expansionary fiscal policy, resulting in a leftward shift of the SRAS curve. B. a sudden increase in the price of an important natural resource, resulting in a leftward shift of the SRAS curve. O C. an increase potential GDP caused by a govemment expenditure multiplier, resulting in a leftward shift of the AD curve. D. an increase in both the inflation and the unemployment...
can someone explain please Question 5 0/2 pts Which of the following is most likely to...
can someone explain please
Question 5 0/2 pts Which of the following is most likely to cause an increase in the inflation rate? a reduction in the percentage of workers who are in labor unions an increase in competition between firms an increase in the non-labor costs of production an increase in the unemployment rate Rising unemployment tends to put downward pressure on wages and prices. In the figure below, when employment is at the level at point C, the...
17. When the inflation rate rises, the purchasing power of nominal income: a remains unchanged. c....
17. When the inflation rate rises, the purchasing power of nominal income: a remains unchanged. c. increases b. decreases d. changes by the inflation rate minus one. 18. Inflation is defined as an increase in: a real wages of workers. b. real GDP c. the average price level. d. all consumer products. 19. Those hurt by inflation include: a. labor unions with COLA clauses. b. borrowers. savers d. owners of real estate. e owners of precious metals, antiques, and works...
Which of the following is a normative economic statement? With falling home prices and rising mortgage...
Which of the following is a normative economic statement? With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased. B) The federal government is considering raising the gasoline tax to promote the use of public transportation. c) Fashion designers should be allowed to copyright designs to promote innovation. D) Rising global demand for diesel and heating oil has led to increases in the price of crude oil. Question 15 (10 points) The economic analysis of...
11) In 1998, ______________________ were over 8 times more likely to be unemployed as white adult...
11) In 1998, ______________________ were over 8 times more likely to be unemployed as white adult males. black females black teenagers white teenagers female Hispanics (12) Many economists theorize that the non-accelerating inflation rate of unemployment has declined over time. Which of the following factors could economists use to help explain why the NAIRU fell? Decreased immigration The transition away from a service economy toward an agricultural economy The lingering effects of the spikes in oil prices...
If the Bank of Canada were to miscalculate the NAIRU (non-accelerating inflation rate of unemployment) as being 10% when in fact it was 12%, it might cause O A. consumers to spend more than they intended, because the Bank of Canada misled them about the unemployment rate. O B. a reduction in the natural rate of unemployment, because it would be allowing inflation to occur. O c. a one-time reduction in unemployment, because of a one-time increase in the money...
Below is a list of potential problems that inflation might
cause. Use the space on the left to name each of these with the
terms used in chapter 8.
___________ Lenders and workers are reluctant
to help firms produce output because the real value of future
dollar payoffs is unclear.
___________ Workers make decisions
on the basis of nominal rather than real wage changes.
____________ Unexpected inflation reduces
the real value of loan repayments.
____________ Firms cannot
distinguish whether there is a...
3. “Inflation is quantitative measure of the rate at which the average price level of basket of selected goods and services in an economy increases over a period of time." a) Explain demand pull inflation and discuss two causes of it. b) Discuss three effects of inflation.
A supply shock is A. an increase in the rate of inflation as a result of expansionary fiscal policy, resulting in a leftward shift of the SRAS curve. B. a sudden increase in the price of an important natural resource, resulting in a leftward shift of the SRAS curve. O C. an increase potential GDP caused by a govemment expenditure multiplier, resulting in a leftward shift of the AD curve. D. an increase in both the inflation and the unemployment...
can someone explain please
Question 5 0/2 pts Which of the following is most likely to cause an increase in the inflation rate? a reduction in the percentage of workers who are in labor unions an increase in competition between firms an increase in the non-labor costs of production an increase in the unemployment rate Rising unemployment tends to put downward pressure on wages and prices. In the figure below, when employment is at the level at point C, the...
17. When the inflation rate rises, the purchasing power of nominal income: a remains unchanged. c. increases b. decreases d. changes by the inflation rate minus one. 18. Inflation is defined as an increase in: a real wages of workers. b. real GDP c. the average price level. d. all consumer products. 19. Those hurt by inflation include: a. labor unions with COLA clauses. b. borrowers. savers d. owners of real estate. e owners of precious metals, antiques, and works...
Which of the following is a normative economic statement? With falling home prices and rising mortgage interest rates, the amount of foreclosures has increased. B) The federal government is considering raising the gasoline tax to promote the use of public transportation. c) Fashion designers should be allowed to copyright designs to promote innovation. D) Rising global demand for diesel and heating oil has led to increases in the price of crude oil. Question 15 (10 points) The economic analysis of...
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