Which of the following is a positive statement?
a. Increased money supply growth will lead to a higher rate of inflation
b. There are more millionaires in Uganda than in the United States.
c. People watch more TV during finals week than during the rest of the term.
d. All of the above are positive statements.
d
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Travis always carries $100 in his wallet to pay for groceries. This is an example of the
A) precautionary demand for money. B) asset demand for money. C) transactions demand for money. D) wealth demand for money.
In a perfectly competitive market, the market supply curve is the sum of the
A) supply curves of all the individual firms. B) average variable cost curves of all the individual firms. C) average total cost curves of all the individual firms. D) average fixed cost curves of all the individual firms.
Refer to Figure 4-6. What area represents the deadweight loss at the equilibrium price of P1?
A) G + H B) C + E C) C + E + H D) There is no deadweight loss at the price of P1.
The Fed-Treasury Accord of March 1951 provided the Fed greater freedom to
A) let interest rates increase. B) let unemployment increase. C) let inflation accelerate. D) let exchange rates increase.