________ examines whether one variable has an effect on another by simply looking directly at the relationship between the two variables
A) Reduced-form evidence
B) Organizational-model evidence
C) Direct-model evidence
D) Structural-model evidence
A
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If product prices were stated in terms of tobacco leaves, then tobacco leaves would be functioning primarily as
A. a unit of account. B. fiat money. C. legal tender. D. a store of value.
As banks lend money in the form of checking accounts:
a. M2 money supply rises when the loan is made and then falls when the loan is spent. b. M2 money supply rises when the loan is made and then falls when the loan is cleared. c. M2 money supply does not change. d. M2 money supply rises when the loan is made and stays at that level until the loan is repaid. e. M2 money supply rises when the loan is made and permanently stays higher until the central bank reverses it.
Which of the following statements about economic fluctuations istrue ?
A. A variety of spending, income, and output measures can be used to measure economic fluctuations because most macroeconomic quantities tend to fluctuate together. B. Economic fluctuations have been termed the "business cycle" because the movements in output are regular and predictable. C. A depression is a mild recession. D. A recession is when output rises above the natural rate of output. E. None of these answers are true.
Explain what the multiplier represents
What will be an ideal response?