In allocating time between competing uses,
a. an individual will try to maximize marginal utility per hour spent on one activity
b. time is considered a free good
c. an individual will try to equate marginal utilities per hour spent on each activity
d. time can be purchased for cash
e. an individual will try to equate the marginal utilities derived from each activity
C
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When a price shock has occurred, inflation returns to its pre-shock rate ________
A) in the period following the price shock B) in the period when output has returned to its pre-shock rate C) once the output gap has returned to zero D) only in the long run E) none of the above
What are some examples of the unconventional monetary policy from the Federal Reserve in response to the 2007-2009? Why were opponents concerned about these measures?
Which of the following is true of a consumption function with income taxes?
a. It is flatter than a consumption function without income taxes. b. It is steeper than a consumption function without income taxes. c. It lies above a consumption function without income taxes d. It lies below a consumption function without income taxes.
Suppose Laqueta deposits $10,000 of cash into a checking account at a commercial bank. The immediate effect is
a. a $10,000 decrease in the M1 money supply. b. no change in the M1 money supply, but in the future, the M1 money supply will tend to decrease because the bank now has excess reserves. c. no change in the M1 money supply, but in the future, the M1 money supply will tend to expand because the bank now has excess reserves. d. a $10,000 increase in the M1 money supply.