The M1 measure of money is suggested by the ________ approach to measuring money
A) investment
B) liquidity
C) transactions
D) security
C
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If spending is NOT responsive to changes in the interest rate, then
A) the Fed is "impotent." B) tax policy is "impotent." C) fiscal policy is "impotent." D) the Fed is "potent."
Long-run equilibrium under monopolistic competition is similar to long-run equilibrium under perfect competition in that:
a. price equals the minimum average total cost. b. firms face perfectly elastic demand curves. c. price equals average cost d. marginal revenue equals average cost.
Transfer prices can be set in such a way so as to maximize profits for an entire business
Indicate whether the statement is true or false
The monetarists believed that
A. the way to fight recessions was by means of fiscal policy. B. the quantity theory of money has a great deal of validity. C. recessions generally come about because the Federal Reserve is not allowing the money supply to grow fast enough. D. the money supply should be allowed to grow at least 8 percent a year.