If Inflation Is Unanticipated,no Redistribution of Income Can Occur

question 136

True/False

If inflation is unanticipated,no redistribution of income can occur.

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Definitions:

Labor Productivity

The quantity of goods and services that a worker produces in a given amount of time.

Dumping

The practice of exporting goods at a price lower than the home-market price, often with the intent of undermining competition in the importing country.

Price Discrimination

The selling of a product to different buyers at different prices when the price differences are not justified by differences in cost.

Smoot-Hawley Act

A United States legislative act passed in 1930, which raised tariffs on thousands of imported goods, contributing to the severity of the Great Depression.