The use of bar codes, computerized price lists, and scanners in supermarkets is an example of
A) menu costs.
B) implicit contracts.
C) efficiency pricing.
D) All of the above.
A
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Answer the following statements true (T) or false (F)
1. An increase in the money supply always causes an increase in the price level. 2. The effect of a change in the money supply on economic activity may be offset by a change in velocity. 3. An increase in the velocity of money can have an effect similar to that of an increase in the money supply. 4. A government surplus may trigger a decline in the money supply. 5. If the CPI reads 150, prices have increased 50 percent since the base year.
Suppose the money multiplier in the United States is 2.5. If the Fed wants to reduce the money supply by 1,000 it should:
A. sell government securities worth 400. B. buy government securities worth 400. C. sell government securities worth 250. D. buy government securities worth 250.
Refer to the above diagram. Cost-push inflation can be illustrated by a:
A. shift in the aggregate supply curve from AS2 to AS3. B. shift in the aggregate supply curve from AS1 to AS3. C. shift in the aggregate supply curve from AS1 to AS2. D. movement along the aggregate demand curve from e1 to e3.
Which of the following is often watched closely as a clue to potential changes in consumer prices in the future?
A. The COLAs. B. The GDP deflator. C. The CPI. D. The PPI.