By saying that the equation of exchange is an accounting identity, we mean that
A. it explains the effect of questionable accounting practices on macroeconomic performance.
B. it identifies the key national income accounts.
C. it is always true.
D. it is useful for accountants, but not for economists.
Answer: C
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Of the following cancer patients, who is speculating?
A) The one who follows their doctor's advice and elects chemotherapy B) The one who goes against their doctor's advice and rejects chemotherapy C) The one who gets a second opinion, but not a third opinion D) All of the above. E) None of the above.
The interest elasticity of money demand is estimated to be
A) small in absolute value. B) large in absolute value. C) highly volatile. D) not statistically different from zero.
Which of the following Federal Reserve chairs had the longest tenure?
a. Alan Greenspan. b. Paul Volcker. c. Milton Friedman. d. Arthur Laffer.
.Which of the following is most likely true when household debt as a share of income is abnormally high?
What will be an ideal response?