In 1998, Japan decided to make the Bank of Japan, its central bank,
A. more independent.
B. more concerned with fighting inflation.
C. subject to direct control by the Japanese prime minister.
D. subject to direct control by the Diet, the Japanese parliament.
Answer: A
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Money functions as a(n)
A) medium of exchange. B) unit of account. C) store of value. D) all of the above.
Monopolies may earn economic losses in the long run
a. True b. False Indicate whether the statement is true or false
Along the short-run supply curve (SRAS), a decrease in the aggregate demand curve will decrease: a. both the price level and real GDP
b. real GDP without raising the price level. c. the price level without affecting real GDP. d. the price level but reduce real GDP.
How does the cross elasticity of demand differ from the price elasticity of demand? How are they related?
What will be an ideal response?