People who run businesses on a day-to-day basis are called:
A. engineers.
B. technology experts.
C. business managers.
D. entrepreneurs.
Answer: C
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Which of the following is an advantage to money targeting?
A) There is an immediate signal on the achievement of the target. B) It does not rely on a stable money-inflation relationship. C) It implies lack of transparency. D) It implies smaller output fluctuations.
For which product is the income elasticity of demand most likely to be negative?
A. Bread B. Used clothing C. Computer software D. Golf balls
In the basic Keynesian model, a decrease in transfer payments:
A. increases potential output. B. reduces potential output. C. increases short-run equilibrium output. D. reduces short-run equilibrium output.
If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the M1 money multiplier is
A) 2.5. B) 2.8. C) 2.0. D) 0.7.