Which of the following is not an example of a type of factor of production?
a. land
b. labor
c. government
d. capital
c
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Discretionary monetary policy has the drawback that it
A) must lead to very high inflation. B) is currently illegal in the United States. C) makes inflation expectations harder to manage. D) cannot be implemented using changes in the federal funds rate. E) None of the above answers is correct.
The elasticity of any demand curve is the same as its slope.
Answer the following statement true (T) or false (F)
Which of the following is the velocity of money?
a. How quickly the average worker gets paid after his or her work is done. b. The average speed of ATM machines. c. The average number of times per year that a given dollar of the money supply is spent. d. None of the above.
Which of the following is not an investment in human capital?
A. An individual decides to enroll in a vocational training program. B. The government expands its programs to improve health care. C. The government increases the level of unemployment benefits. D. A firm engages in on-the-job training.