Which of the following are goals of monetary policy?
A) maximizing the value of the dollar relative to other currencies, economic growth, and high employment
B) price stability, economic growth, and high employment
C) price stability, economic growth, and maximizing the value of the dollar relative to other currencies
D) price stability, maximizing the value of the dollar relative to other currencies, and high employment
B
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The outlet substitution bias is most likely to put ________ and so ________ the inflation rate
A) a downward bias into the CPI; overstate B) no bias into the CPI because it is such a small effect; have no effect on C) a downward bias into the CPI; understate D) an upward bias into the CPI; overstate E) an upward bias into the CPI; understate
Which of the following statements is true?
A) An individual's future spending decreases when he lends money. B) An individual's future spending increases when he borrows money. C) An agent borrows to move his spending from the future to the present. D) An agent borrows to move his spending from the present to the future.
Prices
A. solve the problem of distribution of products among consumers. B. act as rationing devices. C. under laissez-faire produce an efficient allocation of resources. D. do all of the things listed here.
The outsourcing of service jobs such as those in call centers has become a political issue. Do economists see any benefit to outsourcing?
A. Yes; it tends to raise the value of the dollar. B. Yes; it tends to reduce prices to American companies and consumers. C. No; it simply shifts jobs overseas. D. No; it only benefits foreign economies.