International trade and global competition has forced American businesses to:
A. Raise production costs
B. Improve productivity
C. Become less efficient
D. Redistribute income to workers
B. Improve productivity
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With which of the following statements would a "real business cycle" theorist most closely agree?
A) "Expansionary monetary policy allows the central bank to control inflation and unemployment simultaneously." B) "Monetary policies have the greatest impact on real GDP when they are anticipated." C) "Wages adjust rapidly to changes in inflation as long as expectations are formed rationally." D) "Technological shocks to the economy affect only aggregate demand in the short run."
Keynesians believe that velocity of money is stable and predictable
Indicate whether the statement is true or false
National defense is an example of a public good.
Answer the following statement true (T) or false (F)
The fractional reserve system of banking started when goldsmiths began:
A. Accepting deposits of gold for safe storage B. Charging people who deposited their gold C. Using deposited gold to produce products for sale to others D. Issuing paper receipts in excess of the amount of gold held