Having interest rate stability
A) allows for less uncertainty about future planning.
B) leads to demands to curtail the Fed's power.
C) guarantees full employment.
D) leads to problems in financial markets.
A
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A positive statement i. makes a statement about how the world operates. ii. is a true statement. iii. can be tested against the facts
A) i and ii B) i and iii C) ii and iii D) i, ii and iii E) i only
Network externalities
A) prevent the dominance of a market by one firm. B) are created when celebrity endorsements of products lead to a surge in the demand for those products. C) exist when the usefulness of a product increases with the number of consumers who use it. D) can only exist when there are economies of scale.
According to proponents of behavioral economics, because every possible choice cannot be considered, an individual will tend to fall back on methods of making decisions that are simpler than trying to sort through every single possibility, known as
A. rational options. B. irrational choices. C. rules of thumb. D. normative decisions.
The demand for money curve is drawn with
A. nominal Gross Domestic Product (GDP) on the horizontal axis and the curve sloping down. B. the interest rate on the vertical axis and the curve sloping down. C. the interest rate on the vertical axis and the curve sloping up. D. nominal Gross Domestic Product (GDP) on the vertical axis and the curve sloping up.