The California gold rush resulted in an increase in the amount of money in circulation and an increase in prices across the country
Indicate whether the statement is true or false
True
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Since the current tax system is fairly ineffective at redistributing income, some people think this indicates
A. Government failure. B. A negative Gini coefficient. C. Market failure. D. A problem with externalities.
Lisa is currently not employed. She places a value of $12 an hour on her time in nonmarket activities. If Lisa is offered a job paying $17 an hour
A. she is indifferent between supplying hours to the labor market and using her time in nonmarket activities. B. she should supply a positive number of hours in the labor market and allocate no time to nonmarket activities. C. she should supply a positive number of hours in the labor market and to nonmarket activities. D. she should supply 0 hours in the labor market and allocate all of her time to nonmarket activities.
With the Lucas supply function, a price ________ means actual price is either greater than or lower than expected price.
A. surprise B. floor C. anomaly D. ceiling
High-powered money is
A) total deposits received by banks within the system. B) reserves held by banks to meet withdrawals. C) deposits divided by the reserve holding ratio. D) the reserve holding ratio divided by the level of deposits.