In 2011, the research of Professors Thomas Sargent and Christopher Sims led to ______.
a. the invalidation of rational expectations theory
b. the creation of rational expectations theory
c. a Nobel prize
d. growth in real GDP
c. a Nobel prize
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The interest rate for primary credit is usually set ________ basis points ________ the federal funds rate. In March 2008, this gap was changed to ________ basis points
A) 50; below; 100 B) 100; above; 25 C) 100; below; 50 D) 50; above; 25
The relationship between money supply, output, and the overall level of prices is illustrated by the:
A. classical theory of inflation. B. neutrality of money. C. aggregate price level. D. measure of real output.
Imposing a tariff on the import of a good is preferable to a quota because a tariff produces revenue for the government, while a quota never produces any revenue for a government
a. True b. False Indicate whether the statement is true or false
According to some economists, the private sector is more efficient than the public sector mainly because: