In the 1990s
A) growth of M1 was more stable than growth of nominal GDP, and velocity soared through most of the period.
B) growth of nominal GDP was more stable than growth of M1, and velocity soared through most of the period.
C) growth of M1 was more stable than growth of nominal GDP, and velocity plummeted through most of the period.
D) growth of nominal GDP was more stable than growth of M1, and velocity plummeted through most of the period.
B
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Which of the following is a stock?
A. Saving B. Income C. Wealth D. Consumption
Suppose a technology is described by the production function 
a. For a price taking producer who faces output price p and wage w, derive the first order condition and interpret it.
b. Without knowing more about the function f, is the condition you derived in (a) either necessary or sufficient for deriving the profit maximizing production plan? Explain.
c. Suppose 
. Derive the first order condition you illustrated in (a) and solve for 
.
d. For what values of 
is this first order condition necessary and sufficient for deriving a profit maximizing production plan? Explain.
What will be an ideal response?
A theory is an explanation of the causal mechanism behind observed phenomena
a. True b. False Indicate whether the statement is true or false
??Exhibit 16A-2 Macro AD/AS Models
?
?In Panel (a) of Exhibit 16A-2, the economy is initially in short-run equilibrium at real GDP level Y1 and price level P2. If the federal government or Fed decides to intervene, it would most likely:
A. ?increase taxes. B. ?decrease the money supply. C. ?increase the level of government spending for goods and services. D. ?decrease the level of government spending for goods and services.