Which of the following is consistent with the idea that high money supply growth leads to high inflation?
a. the quantity theory and evidence from four hyperinflations during the 1920's
b. the quantity theory but not evidence from four hyperinflations during the 1920's
c. evidence from four hyperinflations during the 1920's but not the quantity theory
d. neither the quantity theory nor evidence from four hyperinflation during the 1920's
a
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Pluralistic ignorance exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
In the United States, the richest 20 percent of households receive about ________ percent of total income
A) 4 B) 15 C) 23 D) 50 E) 33
Suppose the U.S. dollar weakens against the euro (and against other major currencies). This weakening of the dollar will cause which of the following to occur?
A) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the right. B) The aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the right. C) The aggregate demand curve will shift to the right and the short-run aggregate supply will shift to the left. D) The aggregate demand curve will shift to the left and the short-run aggregate supply will shift to the left.
When new farmers enter the wheat industry, the equilibrium price of wheat
a. always falls. b. falls only if existing firms gang up on the entrant. c. falls only if existing firms are earning no economic profit. d. falls only if the new firm is more efficient than existing firms.