The main proponent of monetarism has been ______________.
Fill in the blank(s) with the appropriate word(s).
Milton Friedman
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After trade opens, the short run impact on the income of the specific factor that is relatively scarce will be
A) a decrease in its income. B) an increase in its income. C) no change in its income. D) indeterminate, income effects are not possible to know.
Open market operations
A) lack flexibility because only very small purchases or sales may be carried out in any given month. B) lack flexibility because open market purchases cannot easily be offset by subsequent open market sales. C) are more flexible than other policy tools. D) may be carried out only on the third Friday of each month.
In the 48-year period of 1960 to 2008 , the approximate shares of U.S. GDP are
a. consumption 15 percent; investment 65 percent; government 20 percent; net exports zero b. consumption 20 percent; investment 65 percent; government zero; net exports 15 percent c. consumption 65 percent; investment 15 percent; government 20 percent; net exports zero d. consumption 65 percent; investment zero; government 20 percent; net exports 15 percent e. consumption 15 percent; investment 20 percent; government 65 percent; net exports zero
Venture capital firms attempt to overcome the principal-agent problem by
A) investing only in industries with high profit rates. B) charging high interest rates on loans. C) holding large equity stakes in the firms they invest in. D) avoiding investing in common stock.