The view that changes in the money supply is the primary cause of change in real output and the price level is most closely associated with:
A. Rational expectations theory
B. Real business cycle theory
C. Mainstream economics
D. Monetarism
D. Monetarism
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A product that is a close substitute but not a perfect substitute for the products of the other firms is called
A) a homogeneous product. B) an efficient product. C) a differentiated product. D) an inelastic product.
Which was not one of the main U.S. land acquisitions?
a. The Oregon Country b. The Texas Annexation c. The Florida Acquisition d. The Gadsden Purchase e. All of the above are U.S. land acquisitions.
Rich countries (measured by GDP per capita) tend to have __________ infant mortality rates, __________ life expectancies at birth, and __________ adult literacy rates than poor countries
a. higher; higher; higher b. lower; higher; higher c. lower; lower; higher d. lower; lower; lower e. lower; higher; lower
What does a bank do with the money that you deposit?
A. Banks use the money for ordinary business expenses like paying employees. B. Banks keep your money in a vault in case you return to withdraw it. C. Banks lend most of the money to people who want to borrow. D. Banks use the money to purchase assets like gold and other precious metals.