In May of 2003, the European Central Bank (ECB) decided to:
A. focus almost exclusively on money growth as their target.
B. limit the role of interest rate targeting to be second in importance to money growth targeting.
C. downgrade the role of money growth in their policymaking strategy.
D. switch from an inflation target to a money growth target.
Answer: C
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Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, if the market quantity supplied is 3, the price must be
A) $0. B) $2. C) $4. D) $5.
Assuming demand is inelastic, if a firm wants to increase its total revenue, it should raise price
Indicate whether the statement is true or false
If the output gap equals ?3.2 percent, then:
A. potential GDP is lower than actual GDP. B. there is no cyclical unemployment. C. cyclical unemployment equals the sum of structural and frictional unemployment. D. there is a recessionary gap.
Since 1940 the US Government has generally had a budget:
A. that has been balanced B. deficit. C. surplus. D. multiplier.