A function that summarizes the relationship between the real demand for money, real income, and the nominal interest rate is called the ________ function.
A. real money-demand
B. nominal money-demand
C. interest-income
D. real income-demand
Answer: A
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People know that the Fed has the incentive to announce that the inflation rate will be 3 percent next year, so people will build 3 percent inflation into their wage negotiations. But then the Fed has the incentive to increase inflation above 3 percent to make the economy grow faster. This type of phenomenon is known as
A. inflation targeting. B. time inconsistency. C. McCallum's rule. D. an expectations trap.
Most of what is contained in a sales agreement is the same in the contract for a domestic representative as for an export sale. However, which of the following is among the two areas requiring special attention in an export sales contract?
A. Designation for managing promotion of the product. B. Designation of responsibilities for collection of monies. C. Designation of responsibilities for patent and trademark registration. D. Designation of the deadline and mechanisms for completing the sale.
A company has developed a new cell phone that will be targeted at developing countries. It is estimated that the demand for the new product will initially be slow but would accelerate gradually as the product becomes increasingly familiar to worldwide consumers. In order to determine the number of workers necessary to staff the new production facilities, the company needs to conduct a(n)
A. demand forecast. B. inventory calculation. C. utilization survey. D. market search. E. recruitment drive.
When a salesperson offers a discount if a prospect places a larger order, he or she is using the process of:
A. summary B. assumption C. negotiation D. adaption E. follow-up