Monetary policy has medium-run effects on which of the following?
A) the level of output but not its composition
B) both the level and composition of output
C) the nominal interest rate
D) the real interest rate
E) none of the above
C
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When current growth builds on past growth, growth is:
A) logarithmic. B) exponential. C) linear. D) negative.
Banks make use of the federal funds market in part to
A) pay their tax liabilities. B) manage liquidity risk. C) deal with moral hazard. D) deal with adverse selection.
It is more likely for tacit collusion to occur in the ________ market compared to the ________ market.
A) luxury cruise ship; paper towel B) paper towel; commercial airline C) dog food; luxury cruise ship D) paper towel; luxury cruise ship
Which of the following is NOT a determinant of demand?
A) consumers' incomes B) prices of other goods C) consumers' tastes D) production technology