If assets are relatively _____, and uncertainty is _____, transactions usually take place in markets
a. specific; quite low
b. nonspecific; quite low
c. specific; quite high
d. nonspecific; quite high
B
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Household savings rates:
A. vary enormously across countries. B. seem to be similar for countries within the same continent. C. are impossible to compare across countries. D. are remarkably similar across countries.
Unemployment normally arises when:
A) labor markets are frictionless. B) wages are above the market clearing wage level. C) wages are below the market clearing wage level. D) wages are equal to market clearing wage level.
The current cost of a market basket of goods is $9,000 . The cost of the same basket of goods in the base year was $3,000 . The current price index is:
a. 900. b. 300. c. 166. d. 33.
Part of the controversy about Fed independence include(s)
a. the goal to bring all macroeconomic policy under the direct control of the president. b. the appropriate role of the Fed in policy making. c. how to make the Fed more powerful than other central banks. d. All of the above are correct.