Under the gold standard of a century ago, the world's commerce
a. nearly collapsed before the beginning of World War I.
b. was at the mercy of gold discoveries.
c. grew steadily without interruption from monetary disturbances.
d. grew when the gold stock grew slowly, and shrank when gold discoveries increased.
b
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For open economies,
A) S = I. B) S = I + CA. C) S = I - CA. D) S > I + CA. E) S < I + CA.
Which of the following is a primary objective of monetary policy?
A) achieving a zero natural rate of unemployment B) targeting a zero rate of inflation C) achieving price stability D) all of the above E) none of the above
A tax imposed on the buyers of a good will raise the
a. price paid by buyers and lower the equilibrium quantity. b. price paid by buyers and raise the equilibrium quantity. c. effective price received by sellers and lower the equilibrium quantity. d. effective price received by sellers and raise the equilibrium quantity.
The average propensity to consume is consumption:
a. Multiplied times savings b. Multiplied times investment c. Divided by disposable income d. Divided by saving