Which of the following would be included in M2, but not included in M1?
A. demand deposits
B. checking accounts
C. money market accounts
D. none of the above
Answer: C
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The relative price of a magazine in the above figure is
A) 0.5 of a hamburger per magazine. B) 1 hamburger per magazine. C) 1.33 hamburgers per magazine. D) 8 hamburgers per magazine.
The Phillips curve reflects
a. the short-run tradeoff between inflation and unemployment b. short- and long-run tradeoffs between unemployment and inflation c. the long-run tradeoff between inflation and unemployment d. the income distribution effects of inflation e. short-run fluctuations in GDP
What will happen if a country uses money creation to finance a large and expanding national debt?
a. Real output and employment will grow rapidly. b. Nominal interest rates will fall. c. The foreign exchange value of the currency will increase. d. The rate of inflation will rise.
An increase in government spending will immediately shift
A. aggregate supply to the right. B. aggregate demand to the right. C. aggregate supply to the left. D. aggregate demand to the left.