The relationship between money growth rates and inflation between 1982 and 2010 helps explain why, by the 1990s, most economists had
a. adopted the monetarist explanation of inflation.
b. adopted a rules-only approach to monetary policy.
c. become more convinced of the monetary causes of inflation.
d. abandoned monetarism as the primary explanation of inflation.
d
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Sellers in a perfectly competitive market:
A) are price takers. B) sell differentiated goods and services. C) are not allowed to exit the market. D) are small in number.
Suppose an individual inverse demand curve is given as P = 2 - 1/2 qi, where qi is the quantity demanded by individual i. There are 50 individual consumers with this identical, individual inverse demand curve. Solve for the market demand curve
What will be an ideal response?
Complete the following logical statement: "Because of, individuals and societies must make choices, and they must therefore consider the opportunity cost of every action."
A progressive tax means
a. people who make more money pay less total taxes b. the marginal tax rate increases as income increases c. the percentage of income paid out decreases as income increases d. people who are poor receive the proceeds of the tax e. the same thing as a flat-rate tax