�建 Microsoft Word �档

�建 Microsoft Word �档 - CHAPTER 1. A)...

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CHAPTER 7 1. Inflation means: A) Prices of all goods stay the same or are rising. B) All prices are rising. C) The average price level is rising. D) All of the above. 2. Changes in the relative prices of two goods indicate: A) Inflation. B) Nominal price changes adjusted for the inflation in the price of the goods. C) That average prices for the period must not be stable. D) Changes in the desired mix of output. 3. If the price of health services rises 12 percent during a period when the level of average prices rises 12 percent, the relative price of health services compared with other goods and services: A) Stays the same. B) Increases. C) Decreases. D) More information is required. 4. Because some people's incomes rise faster than inflation while others people's incomes rise more slowly: A) There are no adverse effects from inflation. B) There are redistribution effects from inflation. C)
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This note was uploaded on 04/11/2011 for the course ECO 2251 taught by Professor Kirkland during the Fall '09 term at Troy.

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�建 Microsoft Word �档 - CHAPTER 1. A)...

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