What is the difference between an “all or nothing” decision and one that involves marginal thinking?
a. how much of something to do versus how complicated it is
b. whether to do something versus how much of it to do
c. how important the matter is versus how complicated it is
d. whether to do something versus how important it is
b. whether to do something versus how much of it to do
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One cost of unanticipated inflation is
A) nominal income falls below real income. B) both lenders and borrowers lose. C) arbitrary redistributions of income. D) people cannot repay their debts.
All of the following have enhanced the Fed's credibility in conducting monetary policy except
A) discontinuing the policy of announcing whether it considered the economy to be at greater risk of inflation or recession following each FOMC meeting. B) making the minutes of the open market committee meetings public. C) following through with changes it has announced. D) revealing the Fed's target for the federal funds rate.
The difference in wages that results from nonmonetary characteristics of different jobs is called the
If an economy is currently operating at its full employment level of real GDP, an increase in aggregate demand will _____.
Fill in the blank(s) with the appropriate word(s).