Innovations, including new products and services, in financial markets and institutions have made the job of defining the money supply easier
Indicate whether the statement is true or false
FALSE
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Since 1305, of the following centuries the inflation rate has been the highest during the
A) 17th century. B) 16th century. C) 20th century. D) 14th century. E) 15th century.
The basic purpose of the other-things-equal assumption is to:
A. allow one to reason about the relationship between variables X and Y without the intrusion of variable Z. B. allow one to focus upon micro variables by ignoring macro variables. C. allow one to focus upon macro variables by ignoring micro variables. D. determine whether X causes Y or vice versa.
Under what circumstances would government loan guarantees be socially beneficial?
A. When the guarantees socialize losses and privatize gains. B. When the guarantees stimulate production of goods generating significant spillover costs. C. When the guarantees promote production of goods otherwise underproduced by the private sector. D. When the guarantees increase company profits.
Pareto optimality is the condition in which
A. firms are forced to internalize the effects of all externalities. B. the distribution of income is equal. C. it is possible to make one person better off without making someone else worse off. D. no change is possible that will make some members of society better off without making at least one other member of society worse off.