When people like yourself take extra (unbudgeted) money along on an extended trip, economists classify this money as satisfying your
a. speculative motive
b. transactions motive
c. emergency motive
d. precautionary motive
e. inflationary motive
D
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Roughly how many times has the U.S. experienced a budget surplus since 1960?
A) 0 B) 5 C) 10 D) 20 E) 30
The most important feature of the Single European Act of 1986, which amended the founding Treaty of Rome, was dropping the requirement of
A) unanimous consent for measures related to market completion and making it a decision that only Germany and France agreed about. B) unanimous consent for measures related to market completion. C) majority consent for measures related to market completion and making it a decision that only Germany and France agreed about. D) unanimous consent for measures related to agricultural policies only. E) unanimous consent for measures related only to fiscal policies.
In a market economy, _____ own(s) all the basic resources or factors of production
a. households b. the federal government c. the Federal Reserve bank d. the local government e. business firms
The quantity theory of money is most likely to be relevant
a) when money supply growth is 2% or less b) as a short-term policy prescription c) for economies on the gold standard d) as a long run explanation for inflation e) when the velocity of money is volatile