Which of the following statements is TRUE? A. When petroleum prices increase due to war in Ukraine this will cause demand-pull inflation B. If Jane gets a wage increase of 4% but inflation is 5%, her real income decreases C. None of the above D. John is a banker on a fixed income, this means he will not be affected by high inflation rates

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 13P
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  1. Which of the following statements is TRUE?

     

      A.

    When petroleum prices increase due to war in Ukraine this will cause demand-pull inflation

     

     

      B.

    If Jane gets a wage increase of 4% but inflation is 5%, her real income decreases

     

     

      C.

    None of the above

     

     

      D.

    John is a banker on a fixed income, this means he will not be affected by high  inflation rates

     

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