Over the past 40 years, which of the following has the U.S. economy experienced?
A. secular deflation
B. stable prices and so zero inflation rate
C. persistent deflation
D. persistent inflation
Answer: D
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An increase in the demand for music downloads indicates that more music downloads are
A. demanded because sellers are putting music downloads on sale. B. demanded because music download prices have decreased. C. demanded even if prices of music downloads stay the same. D. demanded because sellers are selling more music downloads.
There are two types of open market operations: ________ open market operations are intended to change the level of reserves and the monetary base, and ________ open market operations are intended to offset movements in other factors that affect the
monetary base. A) defensive; dynamic B) defensive; static C) dynamic; defensive D) dynamic; static
If a production function is represented as q = LaKb, the long-run average cost curve will be horizontal as long as
A) a + b = 0. B) a + b = 1. C) q > 0. D) L = K.
Which European nation has kept its own currency and maintains a fixed value against the euro?
a. The United Kingdom b. Belgium c. Denmark d. Russia