Milton Friedman argued that the Fed's control over the money supply could be used to peg
a. the level or growth rate of a nominal variable, but not the level or growth rate of a real variable.
b. the level of a nominal or real variable, but not the growth rate of a real or nominal variable.
c. the level or growth rate of a real variable, but not the level or growth rate of a nominal variable.
d. both levels and growth rates of both real and nominal variables.
a
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If the number of ITQs issued equals the efficient production level, what is the price of an ITQ?
What will be an ideal response?
A capital gains tax is a tax on the:
A. earnings of individuals and corporations. B. income earned by buying assets and selling them at a higher price. C. wages paid to an employee. D. value of a good or service being purchased.
The principal-agent problem:
A. is caused by the principal having imperfect information about the agent. B. is caused by the principal being unable to perfectly observe the actions of the agent. C. arises from an imbalance of information. D. All of these statements are true.
The measure of the money supply M1 includes all of the following except
A. Currency in circulation. B. Balances in transactions accounts. C. Travelers checks. D. Balances in savings accounts.