In the Monetarists' view, a one-time increase in the price level results from a(n)
A) technological improvement.
B) increase in the labor force.
C) supply shock.
D) interest-rate increase.
C
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Absolute advantage is
A) the ability to produce a good or service at a higher opportunity cost than one's competitors. B) the ability to produce more of a good or service than competitors that have fewer resources. C) the ability to produce more of a good or service than competitors when using the same amount of resources. D) the ability to produce higher quality goods compared to one's competitors.
Suppose you form a legal partnership with your best friend, and she purchases consulting services calling for a $100,000 fee. Your business is broke, and you never wanted the consultants to work for you -- only your partner did. For how much of this debt are you legally liable?
a. none of it b. all of the $100,000 c. the proportion reflected by the proportion of the business owned d. only an amount equal to the assets of the business e. $50,000
Expansionary monetary policy involves actions that:
A. reduce the money supply in order to decrease aggregate demand. B. increase the money supply in order to decrease aggregate demand. C. reduce the money supply in order to increase aggregate demand. D. increase the money supply in order to increase aggregate demand.
How does the value of land change when interest rates increase?