Which one of the following is included in M2 but NOT in M1?
A) coins and currency
B) transaction deposits
C) a savings deposit without a set maturity
D) large-denomination time deposits
C
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Game theory is based on the idea that
a. government determines the rules of the game b. firms are strategically independent c. firms are price takers d. a player's strategy must take account of the strategies followed by other players e. a player's strategy must be independent of the strategies followed by other players
The economy is in long-run equilibrium when there is a correctly anticipated increase in aggregate demand. In new Keynesian theory, the price level will rise __________ in the short run than it is predicted to rise in new classical theory
A) by more B) by less C) by the same amount D) faster E) slower
In which of the following markets is the presence of asymmetric information of little concern to the buyer?
A. The market for used cars B. The market for used computers C. The market for used houses D. The market for used textbooks
A shift from AD1 shifts to AD2 would be consistent with what economic event in U.S. history?
Refer to the figure above.
A. Demand-pull inflation in the late 1960s
B. Cost-push inflation in the mid-1970s
C. Full-employment in the late 1990s
D. Recession in 2007-09