An increase in the discount rate by the Federal Reserve causes the money stock to expand
a. True
b. False
Indicate whether the statement is true or false
False
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Institutional reversal refers to the fact that:
A) the same institutions that were highly inclusive in the year 1500 slowly changed into extractive institutions as a result of modernization. B) Europeans established more extractive institutions in places that were previously more developed, and set up more inclusive institutions that were previously less developed. C) Europeans established more extractive institutions in places that were previously less developed, and set up more inclusive institutions that were previously more developed. D) the same institutions that were highly extractive in the year 1500 slowly changed into inclusive institutions as a result of modernization.
The Lerner Index is preferred to the Herfindahl-Hirschman Index as a measure of market power due to the former's simplicity and straightforward interpretation
Indicate whether the statement is true or false
According to Keynes' fixed money wage theory, when the price level is higher than expected the real wage is ____ than expected and unemployment is ______ than expected
a. lower; lower b. higher, higher c. lower; higher d. higher; lower
Price elasticity of supply is represented as ____________________.
a. monetary currency b. a percentage c. a fraction d. a ratio