The quantity theory of money
a. is a fairly recent addition to economic theory.
b. can explain both moderate inflation and hyperinflation.
c. argues that inflation is caused by too little money in the economy.
d. All of the above are correct.
Ans: b. can explain both moderate inflation and hyperinflation.
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Compared to the central bank response to the financial crisis in 2007-2009, the response to the Great Depression of the 1930s may be characterized as ________, while the response of Japan's central bank to the banking crisis in the early 1990s merits
the label ________. A) hasty; sluggish B) intrusive; tenacious C) complacent; indulgent D) corrupt; technocratic
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A) second-degree price discrimination B) first-degree price discrimination C) third-degree price discrimination D) zero-degree price discrimination
When you buy a taco for breakfast, you are using money as a
A) store of value. B) standard of deferred payment. C) medium of exchange. D) unit of accounting.