A law that requires the money supply to grow by a fixed percentage each year would eliminate
a. the time inconsistency problem, but not political business cycles.
b. the political business cycle, but not the time inconsistency problem.
c. both the time inconsistency problem and political business cycles.
d. neither the time inconsistency problem nor political business cycles.
c
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During 2008, oil price increases
A) did not shift the short-run aggregate supply curve as far to the left as similar increases had 30 years earlier. B) shifted the short-run aggregate supply curve farther to the left than similar increases had 30 years earlier. C) shifted the aggregate demand curve farther to the left than similar increases had 30 years earlier. D) shifted the aggregate demand curve farther to the right than similar increases had 30 years earlier.
Natural monopolies in the United States are generally regulated by
A) the Department of Commerce. B) the Federal Trade Commission. C) local or state regulatory commissions. D) the Department of Justice.
Suppose Russia can produce either 600 pianos or 400 HDTVs, and Italy can produce either 300 pianos or 150 HDTVs. Implicitly, Russia has
A. Both an absolute and a comparative advantage in HDTVs. B. Neither a comparative nor an absolute advantage in HDTVs. C. An absolute but not necessarily a comparative advantage in HDTVs. D. A comparative but not necessarily an absolute advantage in HDTVs.
The highest-income fifth of the U.S. population earns more than 50 percent of all income.
Answer the following statement true (T) or false (F)