________ economists believe that the economy is self-regulating and always at full employment
A) Keynesian
B) Monetarist
C) Classical
D) All
C
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People frequently confuse facts with judgments that are based on beliefs. This means that people have trouble making the distinction between:
A. political statements and non-political statements. B. rational statements and irrational statements. C. macroeconomics and microeconomics. D. positive statements and normative statements.
Real wages are equal to
a. Nominal wages minus the inflation rate b. Nominal wage divided by a price index
The Scarcity Principle states that:
A. society will eventually run out of resources. B. some countries have fewer resources than others. C. with limited resources, having more of one thing means having less of another. D. people don't have enough money to buy what they want.
M1 = 1,000 Small denomination time deposits = 1,500 Savings deposit = 1,800 Money market mutual funds = 300 Large denomination time deposits = 800 If M3 is 5,000, small denomination time deposits are 700, and large denomination time deposits are 900, how much is M2?
What will be an ideal response?