The leader of the monetarist school and major proponent of a monetary growth rule was
A) Ben Bernanke.
B) Milton Friedman.
C) Alan Greenspan.
D) Paul Volcker.
Answer: B
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Oscar and Felix are the only firms that clean offices in a large city. They agree to operate as a cartel. The payoff matrix shows the economic profit that each firm can make
If the game is played repeatedly and Felix and Oscar both use a tit-for-tat strategy, then ________. A) Felix will make $10 million of economic profit and Oscar will cheat B) Felix and Oscar will each make $1 million of economic profit C) Felix will make -$2 million economic of profit and Oscar will cheat D) Felix and Oscar will each make $10 million of economic profit
The economic model of consumer behavior predicts that
A) consumers divide their time between consumption and leisure activities in order to maximize social welfare. B) consumers will try to accumulate as many goods and services as they can before they die. C) consumers will choose to buy the combination of goods and services that make them as well off as possible from those combinations that their budgets allow them to buy. D) consumers will try to earn as much income as they can over their lifetimes.
Since 1974, commercial banks importance as a source of funds for nonfinancial borrowers
A) has shrunk dramatically, from around 40 percent of total credit advanced to around 25 percent by 2014. B) has shrunk dramatically, from around 70 percent of total credit advanced to below 50 percent by 2014. C) has expanded dramatically, from around 50 percent of total credit advanced to above 70 percent by 2014. D) has expanded dramatically, from around 30 percent of total credit advanced to above 50 percent by 2014.
Suppose the money supply is set to grow at 12%, real GDP grows at 4%, and the nominal interest rate on Aaa corporate bonds is 10%
Using the quantity theory of money and the Fisher equation, the expected real interest rate on Aaa corporate bonds should average A) -2%. B) 2%. C) 6%. D) 7%.