In the long run, the inflation rate depends primarily on the growth rate of the money supply
a. True
b. False
Indicate whether the statement is true or false
True
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The marginal utility of a unit of good Y to Jane is
a. the additional utility that Jane gets from consuming one more unit of Y. b. defined in money terms as the minimum amount Jane is willing to pay for that additional unit of Y. c. defined in money terms as the maximum amount Jane is willing to pay for all the Y she buys except that additional unit. d. All of the above are correct.
The possible increase in rent-seeking behavior is a ________ argument ________ government intervention to reduce inequality.
A. fairness-based; against B. data-based; against C. growth-based; in favor of D. political; against
The absolute value of the marginal rate of substitution is a measure of
A. the slope of a budget constraint. B. the relative price of two goods. C. income effect of a price change. D. the slope of an indifference curve.
In 2016 the largest U.S. cash transfer program was
A. Medicaid. B. Social Security. C. Food stamps. D. TANF.