ECS1601 Assignment 4 Semester 2 2023 (SOLUTIONS/ANSWERS)
Question 1
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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
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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
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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.
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