When considering the effects of widespread wage indexing
A. one has to distinguish between demand shocks and supply shocks
B. one always comes to the conclusion that they are ill-suited to protect against the loss of purchasing power
C. one quickly realizes the benefits arising from less real wage rate rigidity
D. one realizes that it is very hard to tie nominal wages to a specific price index
E. none of the above
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The real return on a ten-year Treasury bond was highest in the period from
A. 1960-69
B. 1970-79
C. 1980-89
D. 1990-99
E. 2000-09-01 00:00:00
The losses from holding currency were highest in the period from
A. 1960-69
B. 1970-79
C. 1980-89
D. 1990-99
E. 2000-09-01 00:00:00
The concern over inflation
A. is not justified since gains and losses from real wealth transfers cancel out over time for the economy as a whole
B. is irrational since high inflation generally means high growth
C. is attributable primarily to increased transfers arising from cost-of-living adjustments
D. stems from the fact that inflation is rarely predictable and those households who hold fixed dollar assets will experience a loss in wealth
E. none of the above
Which of the following statements is FALSE?
A. homeowners with fixed-rate mortgages benefit from unanticipated high inflation
B. the costs of unanticipated inflation can be ignored, since the gains and losses of induced wealth transfers tend to cancel each other out over the economy as a whole
C. Social Security beneficiaries are better protected against unanticipated inflation than workers with long-term contracts
D. at least until 1985, the U.S. government gained from unanticipated inflation at the expense of U.S. taxpayers
E. workers who received the minimum wage greatly suffered from unanticipated inflation
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