Multiple Choice
Michael Chang buys only tennis rackets during a particular year.During the year in question,the price of all goods rises by 10% on average,but the price of tennis rackets remains the same.Which statement is correct?
A) Michael benefits from inflation.
B) Michael does not experience inflation because he only buys tennis racquets.
C) No matter what Michael buys, he experiences inflation.
D) Michael does not benefit from inflation.
E) We cannot conclude anything from the information given.
Correct Answer:
Verified
Correct Answer:
Verified
Q63: Net exports can be defined as<br>A) exports
Q88: Company X sells paper to company Y
Q90: If everyone buys the same goods every
Q91: Farmer John produces oranges.He sells half of
Q92: From 1950 through 2012,what happened to the
Q94: The difference between nominal GDP and real
Q95: You know that the consumer price index
Q96: Nominal GDP increased from $14.0 trillion to
Q98: Refer to the following figure when answering
Q130: When you include discouraged workers and unemployed