________ is defined as the increase in domestic assets held by foreigners minus the increase in foreign assets held domestically
A) Net transfers B) The current account
C) The financial account D) Net exports
C
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Economists agree that the CPI
A) is a near perfect measure of the cost of living. B) has no relation to the cost of living. C) is a possibly biased measure of the cost of living. D) almost always shows the cost of living rising less rapidly than is the case in reality. E) overstates inflation by about 4.1 percentage points a year.
If velocity and output were nearly constant, then
a. the inflation rate would be much higher than the money supply growth rate. b. the inflation rate would be about the same as the money supply growth rate. c. the inflation rate would be much lower than the money supply growth rate. d. any of the above would be possible.
The demand curve facing an individual producer of wheat is most likely represented by
a. Panel D. b. Panel C. c. Panel A. d. Panel B.
Compared to Keynesians, Real Business Cycle theorists
a) have greater optimism regarding markets b) give a larger role to stabilization policy c) believe technology plays a relatively minor role in short run fluctuations d) are more likely to claim that individuals are unresponsive to price changes e) are relatively unconcerned with productivity shocks