Which of the following is a goal of the Federal Reserve?
A) The federal funds rate target
B) Changes in reserve aggregates
C) Changes in monetary aggregates
D) Control of the rate of inflation
D
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The tendency of many different economic variables to have regular and predictable patterns over the business cycle is called
A) persistence. B) comovement. C) periodicity. D) recurrence.
If a monopolistically competitive firms incurs an increase in fixed costs, its price will rise and its output will fall
a. True b. False Indicate whether the statement is true or false
In the above figure, suppose the monopolist is producing at Q3. The firm should
A. increase output and decrease price. B. decrease output and increase price. C. not change output or price. D. shut down.
If the nominal money supply grows 6%, real income rises 2%, and the inflation rate is 5%, then the income elasticity of money demand is
A. 1.0. B. 0.75. C. 0.5. D. 1.5.