When economists and government officials speak about the money supply, they usually mean M2
a. True
b. False
B
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Refer to the table below. Martha's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. 60 pies. B. 3/4 of a pie. C. 6 pies. D. 4/3 of a pie.
P x Q is:
a. A stock value. b. A flow value. c. Totally unrelated to stocks and flows. d. Equal to real GDP
Which of the following is not an example of the issue of time inconsistency?
A) a central bank announced to maintain low inflation and at the same time increased money supply B) a government stated that they will not negotiate with hostage takers. When someone is taken hostage, it negotiates C) a mom says to her kids no cookie before meals and she never gives cookies before her kids eat their meals D) a person on diet eats ice cream for dinner
Economic growth shifts a society's production possibility frontier away from the origin.
Answer the following statement true (T) or false (F)