In the United States, the different categories of money supply measurement are based on:
a. the elasticity of money.
b. the liquidity of money.
c. the amount of purchasing power.
d. the reserve requirements in the banking system.
e. the velocity of money.
b
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If inflationary expectations are increasing, we would expect that the nominal interest rate would also be increasing, holding all else constant
Indicate whether the statement is true or false
A good salesperson can sell $500,000 worth of goods, while a poor one can sell only $100,000 worth of goods. Job applicants know if they are good or bad, but the firm does not
A firm will offer job applicants a choice between a fixed salary of $10,000 or a 10% commission. Assuming risk-neutral salespersons and no opportunistic behavior, can the firm determine a prospective good salesperson from a poor one? A) Yes, because a poor salesperson will always choose the fixed salary. B) Yes, because a good salesperson will always choose the fixed salary. C) No, because a poor salesperson is indifferent between the two contracts. D) No, because a good salesperson is indifferent between the two contracts.
At a profit-maximizing output level,
A. marginal revenue minus marginal cost equals zero. B. marginal profit equals zero. C. the slope of the total profit curve is zero. D. All of the responses are correct.
The most widely used approach for the analysis of oligopoly behavior is
A. game theory. B. role–playing. C. strategic engineering. D. input-output analysis.