The quantity theory of money seeks to explain the connection between money and
A) interest rates.
B) unemployment.
C) output.
D) prices.
Answer: D
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Rent seeking is inefficient logrolling leads to a misallocation of resources
a. True b. False
According to your text, during the 2000s, the inflation rate was in which range of percentages?
A) 0-5% B) 5-10% C) 10-15% D) 15-20%
The purpose of deregulating banks during the 1980s was to: a. eliminate the risk that banks incurred
b. allow banks to compete with other financial institutions. c. allow U.S. banks to compete with foreign banks. d. help consumers earn more interest. e. decrease the cost of banking regulation.
If marginal cost exceeds average total cost in the short run, then which is likely to be true?
A. Average total cost is increasing B. Average variable cost is decreasing C. Average total cost is less than average variable cost D. Marginal cost is less than average variable cost