Which of the following are goals of monetary policy?
A) maximizing the value of the dollar relative to other currencies, economic growth, and high employment
B) price stability, maximizing the value of the dollar relative to other currencies, and high employment
C) price stability, economic growth, and high employment
D) price stability, economic growth, and maximizing the value of the dollar relative to other currencies
Answer: C
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In the production function Y = AF(K, N), A is ________, K is ________, and N is ________
A) total factor productivity; the capital stock; the number of workers employed B) total factor productivity; investment; the number of workers employed C) the productivity of labor; the capital stock; the size of the labor force D) the productivity of labor; investment; the size of the labor force
Pain, suffering and disfigurement are forms of
a. compensatory damages b. punitive damages c. economic damages d. all of the above.
The short run:
A. means the firm cannot increase or decrease at least one of its inputs. B. means that output cannot be changed. C. means the price of output is fixed. D. All of these are true.
Suppose that young people often borrow and then repay the loans when they are older. These actions relate to which problem in measuring inequality?
a. in-kind transfers b. the economic life cycle c. a negative income tax d. economic mobility