Anything can be money if it acts as a:
a. medium of exchange.
b. All of the answers must be correct.
c. store of value.
d. unit of account.
b
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The long-run real interest rate is the long-run nominal interest rate ________
A) minus inflation expectations B) plus all taxes C) plus inflation expectations D) minus all taxes
The elasticity of demand for chocolate chip cookies is 0.6 and the elasticity of supply for these cookies is 1.9. If a tax is imposed on purchases of chocolate chip cookies, then the
A) consumers would pay more of the tax. B) producers would pay more of the tax. C) tax would be equally shared by the consumers and the producers. D) consumers would pay the entire tax because their demand is less elastic than the producers' supply.
Which of the following is not a derivative?
A) Treasury bond futures B) Common stock C) Swaps D) Options
Monetarists are in favor of
a. inflation targeting. b. interest rate targeting. c. output targeting. d. nominal income targeting. e. money growth targeting.