Inflation targeting requires monetary policy makers to rely heavily on the Phillips curve
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is a flow variable?
a. Price level b. U.S. population c. Money supply d. Investment spending e. Household debt
Given a constant GDP gap, the higher the spending multiplier, the smaller will be the recessionary gap
a. True b. False Indicate whether the statement is true or false
The normative economic goals of developing countries:
A. focus primarily on achieving an equitable distribution of income. B. focus primarily on meeting basic needs. C. are the same as those of developed countries. D. focus primarily on achieving economic stability.
Economies of scale will lead to only one firm in the industry because
A. one firm has an average cost curve, which has shifted below the average cost curves of its competitors. B. by increasing output a firm is able to lower the cost per unit and charge lower prices driving smaller firms out of business. C. there are governmental entry restrictions. D. of government licensing.