Autonomous consumption is NOT influenced by
A. Aggregate household wealth.
B. Expectations of future income and wealth.
C. Aggregate household debt.
D. Disposable income.
D. Disposable income.
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Speculators are primarily interested in
A) betting on anticipated changes in prices. B) reducing their exposure to the risk of price fluctuations. C) increasing market liquidity. D) reducing the spread between bid and ask prices on bonds.
The observed variations in practice patterns in different regions of the country are difficult to eliminate
a. because of the many alternative treatment options available for most ailments. b. due to the localized nature of most medical practice. c. because it is difficult to change the preferences of physicians and patients. d. the observed variations are so minor that they are of little concern to policy makers. e. responses a, b, and c are all true.
The greater the degree of specialization in the economy, the: a. easier it is to discover a double coincidence of wants
b. more feasible is a barter system. c. less likely it is that monetary exchange will develop. d. harder it is to negotiate an exchange rate between all pairs of goods. e. more likely it is that individual consumers are self-sufficient.
The principal reason that monetary policy has lags is that it takes a long time for
a. changes in the interest rate to change aggregate demand. b. changes in the money supply to change interest rates. c. the Fed to make changes in policy. d. Congress and the President to approve Fed policy.