Which of the following is not, in general, an aspect of inflation targeting?
A) institutional commitment to a dual mandate
B) the public announcement of medium-term numerical inflation targets
C) increased accountability of the central bank
D) increased transparency of monetary policy
A
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When using the terms “total utility“ or “marginal utility,” we assume
A. the consumer will exchange one commodity for another. B. the consumer will part with money for the commodity. C. the consumer has declined to purchase the commodity. D. the consumer can measure utility in exact monetary terms.
Generally, in economics we study how people
a. react to changes in government policy. b. make choices when resources are scarce. c. react to rising prices. d. get increases in income.
A surplus exists in a market if
a. there is an excess demand for the good. b. quantity demanded exceeds quantity supplied. c. the current price is above its equilibrium price. d. All of the above are correct.
Other things remaining the same, in the long-run as compared to the short-run
A. supply elasticity will decrease. B. supply elasticity will increase. C. supply elasticity will remain the same. D. one cannot tell.