Bart operates a lemonade stand in front of his house. His father works at the Springfield Nuclear Power Plant. Which of the following is most likely to be true?
a. The long run is the same for the power plant as it is for the lemonade stand.
b. The long run is longer for the power plant than it is for the lemonade stand.
c. The long run is shorter for the power plant than it is for the lemonade stand.
d. We cannot compare the long runs because these are different businesses.
e. It's impossible for the power plant short run to be shorter than the lemonade stand's long run.
B
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Which of the following assumptions indicates that there is no trade-off between inflation and unemployment?
A) A vertical aggregate demand curve B) A vertical Phillips Curve C) Constant velocity D) Constant money supply growth rate
At what stage of the securitization process was moral hazard a major problem?
a. Mortgage origination. b.Due diligence and mortgage servicing. c. Rating securitized issues. d. All of the above
Figure 7.2
Refer to Figure 7.2. Assume that Ashley faces budget line CD with her $120 income. Then the prices of a hamburger and a book are:
A. $2 and $5, respectively. B. $3 and $6, respectively. C. $4 and $7, respectively. D. $5 and $8, respectively.
Intermediate targets are
A. macroeconomic variables that the Fed can influence that are related to the Fed's goals. B. identical to instruments. C. macroeconomic variables that never get revised. D. also known as the Fed's tools.