"Real money balances" refers to ________
A) the quantity of goods and services that money can buy
B) gold and silver
C) money that is actually available to be spent
D) all of the above
E) none of the above
A
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Market-oriented economists favor the use of _____ to solve the global warming problem
a. explicit emission targets b. taxes on emissions c. tradable rights d. Both (a) and (b) e. Both (b) and (c)
A rapid demographic transition should raise the saving rate
a. True b. False
In the long run import quotas do not affect the size of net exports
a. True b. False Indicate whether the statement is true or false