An example of Friedman's k-percent rule is
A) "do not change the growth rate of the quantity of money."
B) "every time GDP decreases, decrease the growth rate of the quantity of money."
C) "set the growth rate of the quantity money equal to the unemployment rate."
D) "every time GDP decreases, increase the growth rate of the quantity of money."
E) "use all information available to determine the growth rate of the quantity of money each time GDP changes."
A
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A situation in which the outcome of an election is sensitive to the order of events is called
A) the agenda paradox. B) strategic voting. C) the Condorcet paradox. D) Borda-count manipulation.
The table below shows four alternative techniques for assembling a car. The cost of labor is $20 per hour, and the cost of capital is $10 per hour. Which of the four techniques for assembling a car is economically efficient?
A) T-1 B) T-2 C) T-3 D) T-4
Under the liquidity premium theory, a flat yield curve indicates that investors expect future short-term rates to
A) fall. B) rise. C) remain constant. D) either fall or remain constant.
Columbia produces coffee with less labor and land than any other country; it therefore necessarily has a. an absolute advantage in coffee production
b. a comparative advantage in coffee production. c. both a comparative and absolute advantage in coffee production. d. an absolute advantage and comparative disadvantage in coffee production.