The quantity theory of money asserts that inflation is the result of growth in
A) the quantity of money.
B) potential GDP.
C) the natural rate of unemployment.
D) money wage rates.
A
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A person's earnings over a period of time is known as
A) money B) income C) wealth D) all of the above
Based on the data in the above table, then if opportunity costs are constant, the opportunity cost of producing movies in the United States is ________, and the opportunity cost of producing movies in Switzerland is ________
A) 2 movies; 2 cuckoo clocks B) 2.5 movies; 0.4 cuckoo clocks C) 0.4 cuckoo clocks; 0.5 cuckoo clocks D) 2.5 cuckoo clocks; 2 cuckoo clocks
Assume that a British investor buys a one-year U.S. Treasury bill that pays 6 percent annual interest. Given a yield of 4 percent on a comparable British Treasury bill, the U.S. dollar must depreciate 2 percent against the British pound during the year for interest rate parity to hold
a. True b. False Indicate whether the statement is true or false
Since resources are abundant, we do not have to make choices about their use
a. True b. False Indicate whether the statement is true or false