"Monetary instability has been the major cause of economic instability in this country. Expansion in the money supply has been the source of every major inflation. Every major recession has been either caused or perpetuated by monetary contraction." Who among the following would most likely adhere to this view?
A. Monetarists.
B. Keynesians.
C. Demand-side economists.
D. Quantity theorists.
Answer: A
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Refer to the table below. The marginal cost of the 3rd unit of this activity is:Units ofActivity TotalCostTotalBenefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. $30 B. $10 C. $20 D. $25
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
In the above figure, which curve shows a positive relationship between x and y?
A) only curve A B) only curve B C) only curve C D) All the curves show a positive relationshi
Suppose we want to know how much money your grandparents would have to earn now to have purchasing power equivalent to their income in 1969. We could:
A. translate their nominal income in 1969 into constant, real dollars of today. B. translate their nominal income today into 1969 dollars. C. take a ratio of their income today with their income from 1969. D. None of these statements is true.