Unless money can perform its job as a _______, it doesn't matter that much if it performs its other jobs that well.
Fill in the blank(s) with the appropriate word(s).
medium of exchange
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Compared to the 19th century, the population of the 20th century
(a) was largely urbanized. (b) was 3.7 times larger in number. (c) experienced a 63 percent increase in life expectancy at birth. (d) can be described by all of the above.
An example of moral hazard is
a. people drive less carefully in icy conditions with antilock brakes than without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people read the medicine warnings as carefully when self-medicating as with a doctor's prescription
Suppose a recession surprises economic forecasters who did not see it coming. This is an example of a _____
a. cyclical lag b. recognition lag c. decision-making lag d. implementation lag e. effectiveness lag
Fiscal policy is purposeful movements in ________ designed to direct an economy.
A. legal structures B. interest rates C. government regulations D. government spending and taxes