Costs of unanticipated inflation
Question: Give two costs of anticipated inflation and two costs of unanticipated inflation. How is the magnitude of each affected if, instead of a moderate inflation, hyperinflation occurs.
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Question: Give two costs of anticipated inflation and two costs of unanticipated inflation.
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Problem: What is the historical relationship between unemployment and inflation?
Compare how quickly the oil is likely to be extracted in this situation with how quickly it would be extracted if one person owned the property rights to drill.
How would the situation improve if people who won licenses were allowed to sell them to others?
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