Opponents of the Taylor rule argue that it implies more advanced knowledge about the economy than is potentially feasible
a. True
b. False
A
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The aggregate demand curve shows the relationship between the volume of purchases and:
a) The price level. b) Which goods and services people will buy. c) The amount producers supply. d) Real GDP.
The federal backing for the money in the United States comes from:
A. pledging physical assets, such as land, natural resources, and public buildings as collateral for outstanding currency. B. protecting checkable deposits at financial institutions with deposit guarantees. C. control over the money supply designed to keep the value of money relatively stable over time. D. providing sufficient quantities of precious metals such as gold and silver to cover the amount of paper money in circulation.
All of following are commonly considered to be common property EXCEPT
A. pigs raised in a farm. B. spotted owls in the wild. C. fish in an ocean. D. wild salmon in a river.
When actual inflation is greater than expected inflation,
A. there are transfers from lenders to borrowers. B. cyclical unemployment rises, according to Phillips-curve analysis. C. there are transfers from borrowers to lenders. D. the natural rate of unemployment rises, according to Phillips-curve analysis.