Data collected on a sample of individuals with different characteristics at a specific point in time are called:
A) cross-section data.
B) time series data.
C) panel data.
D) none of the above.
A
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If the great majority of shocks to our system arise from unpredictable shocks to money demand, the preferred tactic of monetary policy is targeting
a. reserves. b. interest rates. c. M2. d. reserves plus currency.
In 1996, if nominal GDP was about $8.5 thousand billion. The stock of money was
A. about the same as this. B. much less than this. C. much more than this. D. unrelated to this number.
If the demand curve a monopolist faces is perfectly elastic, then the ratio of the firm's price to the marginal cost is
A) 0. B) 1. C) 2. D) None of the above—the answer cannot be determined.
Which of the following statements is TRUE about the role that service exports and imports have in the balance of payments?
A) Service exports and imports are not included in the balance of payments because it is impossible to transport a service to another country. B) Service exports and imports are included in the balance of payments in the labor account. C) Service exports and imports are included in the balance of payments in the official reserve transactions account. D) Service exports and imports are included in the balance of payments in the current account.