Monetarists believe in all of the following except
a. steady growth in inflation will yield stable output.
b. steady growth in the money supply will yield stable output.
c. fluctuations in the money supply are responsible for business cycles.
d. the Fed should not be involved in trying to stabilize the economy.
A
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In an auction, ________
A) buyers set the price of a good B) the seller sets the price of a good C) the government sets the price of a good below its market price D) the government sets the price of a good above its market price
A major problem in projecting with a trend line is that
A) only straight-line projections can be accommodated. B) it is valid only if the trend is upward. C) it will not forecast turning points in activity. D) it is a very complex method of forecasting.
Keynesian economists tend to believe that the private sector of the economy (households and businesses) is inherently
A. very stable in its consumption and investment decisions. B. unstable in its consumption and investment decisions. C. smaller than the foreign trade sector of the economy.
A tariff on a product makes
a. domestic sellers better off and domestic buyers worse off. b. domestic sellers worse off and domestic buyers worse off. c. domestic sellers better off and domestic buyers better off. d. domestic sellers worse off and domestic buyers better off.