The belief that the velocity of money is NOT constant but is highly predictable is associated with the
monetarist school
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A variable that tends to move at the same time as aggregate economic activity is called
A) a leading variable. B) a coincident variable. C) a lagging variable. D) an acyclical variable.
A bank may make loans until its:
A. required reserves are exhausted. B. excess reserves are exhausted. C. total assets are exhausted. D. total liabilities are exhausted.
Assuming the same costs, a monopoly will:
A) produce more and charge a higher price than a perfectly competitive firm. B) produce less and charge a higher price than a perfectly competitive firm. C) produce less and charge a lower price than a perfectly competitive firm. D) produce more and charge a lower price than a perfectly competitive firm.
Which of the following would not be an argument that government debt imposes a burden on future generations?
A. Lump-sum taxes in the future may be raised to pay higher real interest costs. B. Higher government deficits resulting from increased purchases may reduce savings, causing investment to fall. C. Higher taxes in the future to repay government debt will transfer resources from the poor to the rich. D. Higher taxes in the future could increase the average cost of distortions to the economy created by taxes.