While the Fed has a "dual mandate" of goals to achieve, most economists believe that in the long run the single key role is attaining
A) price stability.
B) high inflation rates.
C) low economic growth rates.
D) high levels of income and output.
E) stable velocity of money.
A
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Jenny sells lemonade in front of her house in the summer. Several other kids in Jenny's neighborhood also run lemonade stands in the summer. If the lemonade market is perfectly competitive and Jenny is charging the equilibrium price, then Jenny can increase her revenue if she:
A. keeps the price of her lemonade the same and increases the output. B. decreases the price of her lemonade and doesn't change her output. C. increases the price of her lemonade and decreases her output. D. increases the price of her lemonade and doesn't change her output.
What are the benefits of bankruptcy laws that enable lenders to seize the assets of firms that default on loan contracts?
What will be an ideal response?
Why is the principal-agent problem less likely when getting a haircut than when getting a car repaired?
a. Haircuts are less expensive than car repairs. b. There are no hidden actions when getting your hair cut. c. There are no hidden actions when getting your car repaired. d. Auto mechanics are less honest than hair stylists. e. There is no principal-agent relationship in car repair.
Emocrats often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Tax cuts B. Increase government spending C. Decrease government spending D. Encourage the public to save more