Defining what money is:
A. is easier to do in the long run than in the short run.
B. is the easiest, but least important part of monetary policy.
C. is easy to do, which explains why monetary policy is so effective.
D. isn't easy, and this makes monetary policy more difficult.
Ans: D. isn't easy, and this makes monetary policy more difficult.
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In the consumption function, suppose a = 60, c = 0.75, Y = 3000, and T = 800. Consumption expenditure is
A) 2910. B) 2245. C) 1710. D) 1590. E) 1510.
Wage contracts force businesses to adjust wages rather than employment in response to an unexpected change in aggregate demand
a. True b. False Indicate whether the statement is true or false
The sum of all factor payments in the economy yields
A. gross domestic product. B. national income. C. disposable income. D. net domestic product.
If a firm is NOT forced to pay for external costs, it will
A. request a subsidy from the government. B. continue to overproduce the good. C. continue to under produce the good. D. raise prices.