ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS)
Question 1
Answer saved
Marked out of 1.00
Flag question
Question text
The distribution effects of inflation are best described by …
a.
the elderly benefiting at the expense of the young.
b.
creditors benefiting at the expense o...
Question text
The distribution effects of inflation are best described by …
a.
the elderly benefiting at the expense of the young.
b.
creditors benefiting at the expense of debtors.
c.
borrowers benefiting at the expense of lenders.
d.
the poor benefiting at the expense of the rich.
Clear my choice
Question 2
Answer saved
Marked out of 1.00
Flag question
Question text
The appropriate policy to combat cost-push inflation would be to increase ______, which will be illustrated by
__________.
a.
interest rates; leftward shift of the aggregate demand curve
b.
productivity; rightward shift of the aggregate supply curve
c.
wages; leftward shift of the aggregate supply curve
d.
government spending; rightward shift of the aggregate demand curve
Question 3
Answer saved
Marked out of 1.00
Flag question
Question text
In the case of demand-pull inflation, an increase in the general price level is accompanied by … in total production. In
the case of cost-push inflation, an increase in the general price level is accompanied by…in total production.
a.
a decrease; an increase
b.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller itsbesttutors. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.85. You're not tied to anything after your purchase.