Economists who focus their analyses on the effects of a change in the money supply and velocity are called
a. realists.
b. Keynesians.
c. supply-siders.
d. monetarists.
d
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If the Fed wished to decrease inflation, it could
A) increase the reserve requirement or conduct an open market sale. B) increase the reserve requirement or conduct an open market purchase. C) decrease the reserve requirement or conduct an open market sale. D) decrease the reserve requirement or conduct an open market purchase.
Which of the following statements correctly describes the curves in the figure?
A) Curve A could represent either the average product curve or the marginal product curve. Curve B represents the total product curve. B) Curve B could represent either the average product curve or the marginal product curve. Curve A represents the total product curve. C) The marginal product of labor curve is represented by curve B and the average product of labor curve is represented by curve A. D) The marginal product of labor curve is represented by curve A and the average product of labor curve is represented by curve B.
When aggregate demand is lower than expected, inventories decline and the rate of unemployment falls
a. True b. False Indicate whether the statement is true or false
Which of the following is an activity of government that is not an activity of private firms?
A. Enforcing involuntary transactions. B. Paying equitable wages. C. Creating positive externalities. D. Pursuing economic efficiency.