The rule suggested by the monetarists is that the money supply increases at the same rate as
A. the price level.
B. the interest rate.
C. the velocity of money.
D. the potential growth in real GDP.
D. the potential growth in real GDP.
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Hector voluntarily left his job to search for a job in accounting, the field in which he has his bachelor's degree. Hector is considered
A) frictionally unemployed. B) not to be unemployed. C) structurally unemployed. D) cyclically unemployed.
In one week, Tetah can knit 15 sweaters or bake 480 cookies. The opportunity cost per cookie for Tetah is
a. $15 b. 15 sweaters c. 32 sweaters d. 1/32 of a sweater e. 480 sweaters
In the classical model, government purchases or tax cuts are appropriate policies to raise GDP
a. True b. False
The value of a good is
a. subjective. b. objective or intrinsic. c. determined by a government statistical agency. d. determined by its cost of production.