The Fed's current position towards the existing monetary aggregates is
A) it is convinced that M1 is the best measure of the money supply.
B) it is convinced that M2 is the best measure of the money supply.
C) it is an issue of ongoing research.
D) it is reverting to considering currency alone as the best measure of the money supply.
C
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Suppose an economy has the following characteristics: 100 people in the noninstitutional population; 60 people employed; 20 people not in the labor force. How many people are in the economy's labor force?
A) 20 B) 40 C) 60 D) 80 E) 100
Consider four parcels of peanut growing land. The nonland peanut production costs are $1,000 for Parcel A, $1,200 for Parcel B, $1,600 for Parcel C, and $1,700 for Parcel D. If, before rents are charged, farmers are indifferent between planting on Parcel, then which of the following is true?
A. Parcel A’s rent is $200 and Parcel C’s rent $0. B. Parcel A’s rent is $200 and Parcel B’s rent $400. C. Parcel A’s rent is $600 and Parcel B’s rent $300. D. Parcel A’s rent is $600 and Parcel D’s rent $0.
What is TRUE when the credit market is in equilibrium?
A) The legal minimum wage equals the actual wage. B) Desired saving equals desired investment. C) Desired employment equals the number of jobs available. D) Desired consumption spending equals the total of saving plus investment.
Which theorem tells us that no voting system is perfect?
A. Bowman's problematic theorem B. Arrow's impossibility theorem C. Condorcet paradox D. Median-voter theorem