Any commonly accepted good that acts as a medium of exchange, a measure of value, and a store of value is known as
a. money
b. currency
c. acquisitive
d. fiat
e. M1
A
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Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy credibility, due in part to ________, while a policy that targets the inflation rate itself ________
A) lags, must have policy credibility by definition B) lags, can lack credibility due to both lags and multiplier certainty C) multiplier uncertainty, must have policy credibility by definition D) multiplier uncertainty, can lack credibility due to both lags and multiplier uncertainty
In surveying their alumni, State U's economics department discovered that ramen noodle consumption declined once students graduated and found jobs. One conclusion the survey team might draw from this result is that:
A. ramen noodles are an inferior good. B. college graduates have a high reservation price for ramen noodles. C. there is excess demand for ramen noodles. D. the equilibrium price for ramen noodles is too high.
The value of R2 always _____.
A. lies below 0 B. lies above 1 C. lies between 0 and 1 D. lies between 1 and 1.5
An aggregate is a collection of ___________.
a. general economics units treated as many units b. specific economic units treated as if they were one unit c. specific economic units treated as if they were many units d. general economic units treated as if they were one unit