Variable inflation rates may be more costly socially than low but predictable rates of inflation.
Answer the following statement true (T) or false (F)
True
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"Beaten paths" in the context of labor migration are:
A. Routes taken previously by family, relatives, and friends B. Routes that have been "over used" by previous immigrants C. Routes that are no longer followed by immigrants D. Typical methods used to increase human capital
If the market price is lower than a perfectly competitive firm's average total cost, the firm will
A) immediately shut down. B) continue to produce if the price exceeds the average fixed cost. C) continue to produce if the price exceeds the average variable cost. D) shut down if the price exceeds the average fixed cost. E) shut down if the price is less than the average fixed cost.
Which of the following accurately measures the welfare or happiness of society?
A) Nominal GDP B) Real GDP C) Both Nominal GDP and Real GDP D) None of the above.
A fall in which of the following would increase the money multiplier?
a. The monetary base b. A change in M1 c. The level of Federal Reserve open market purchases d. An increase in the currency to checkable deposit ratio e. All of the above