The Phillips curve describes a negative relationship between unemployment and inflation
a. True
b. False
Indicate whether the statement is true or false
True
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A person puts a $100 bill in the glove compartment of his car in case of an emergency. This is an example of
A) the precautionary demand for money. B) the transaction demand for money. C) the emergency investment demand for money. D) the asset demand for money.
Elijah, a basketball fan, reasons that because his favorite team has three superstars on it, the team must be a great team and will win the championship. Elijah is committint the
a. fallacy of composition b. fallacy that association is causation c. fallacy of segmentation d. mistake of ignoring secondary effects e. mistake of ignoring the obvious
The money rate of interest that lenders pay for borrowed funds minus the real rate of interest equals the
a. nominal rate of interest. b. present value of an asset. c. inflationary premium. d. productivity of capital.
What is the economically efficient level of emissions from a particular source?
a. zero b. the quantity at which the marginal cost to achieve lower emissions equals the additional value of reducing pollution c. the level determined by EPA (Environmental Protection Agency) scientists that will save the most lives d. the level emitted when markets are allowed to function with no government regulation