Two methods of measuring GDP are
A) the income approach and the expenditure approach.
B) the income approach and the receipts approach.
C) the goods approach and the services approach.
D) the saving approach and the investment approach.
A
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Does it appear that currency boards make fixed exchange rates credible?
What will be an ideal response?
The interest-rate-based monetary policy transmission mechanism argues that an increase in the money supply
A) has no effect on aggregate demand but reduces long-run aggregate supply. B) has no effect on aggregate demand but increases short-run aggregate supply. C) causes interest rates to fall, which causes an increase in planned investment, and an increase in aggregate demand. D) causes the inflation rate to decline, which causes an increase in household consumption spending and an increase in aggregate demand.
The CPI is based on an:
A. aggregated average meant to reflect the statistical average consumption. B. average of the goods and services purchased by "urban consumers." C. average of the goods and services purchased by "rural consumers." D. average of the two baskets of goods and services purchased both by "urban" and by "rural" consumers.
To maximize progress toward a political goal, the "rational terrorist" will always choose those actions for which the
A. most money is lost. B. most people die. C. fewest innocent people die. D. marginal benefit equals or exceeds the marginal cost.