The choice between hawk and dove positions depends on
a. the extent of cyclical unemployment at the time of the decision
b. relative importance of short-run and long-run monetary considerations
c. cooperation between Congress and the monetary authorities
d. the frequency of negative supply shocks
e. the Fed's relative concern for price and employment stability
E
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If your wealth is held as currency or in checking accounts, or other assets that you can convert to money on short notice, your assets are considered to be
A) abundant. B) interest bearing. C) liquid. D) fast moving.
If aggregate demand decreases and neither short-run nor long-run aggregate supply changes, then
A) the price level increases in the short-run and decreases in the long run. B) there is an inflationary gap. C) there is a recessionary gap. D) in the long run, the long-run aggregate supply will decrease.
The First Continental Congress met in September and October of 1774 and listed several complaints against the British government, including
(a) an objection not to the Navigation Acts but to the taxation without consent. (b) the argument that they were entitled to all the rights of British citizenship. (c) the demand that virtually all of the laws passed by Britain on the colonies since 1763 be repealed. (d) all of the above.
Mary purchases a U.S. Treasury bond; the bond is a(n):
A. asset of the U.S. government as well as an asset for Mary. B. asset for the government but a liability for Mary. C. asset for Mary but not a liability of the U.S. Government. D. liability of the U.S. government and an asset for Mary.