What is inflation targeting?
a. Making sure inflation is reduced to zero.
b. Increasing the required reserve ratio when there is inflation.
c. Increasing the supply of money in the economy.
d. Aiming for a particular inflation level.
d
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If the demand curve is vertical, the elasticity is
A. 1.0. B. 0.0. C. 0.5. D. infinite.
If a corporate bond with face value of $1,000 has an interest rate of eight percent paid once a year for a term of 30 years, what is the size of the annual coupon payment?
A) $1,000 B) $300 C) $80 D) $8
Joey cuts grass during the summer. He owns one lawn mower. For him, the short run is equal to
A) the amount of time it takes to acquire more customers. B) the amount of time it takes to hire an additional employee. C) the amount of time it takes to hire an additional employee and buy another lawn mower. D) the amount of time it takes to mow one lawn.
For a monopolist, average revenues:
A. are always equal to price. B. equal price only at the profit maximizing quantity. C. are always zero at the profit maximizing quantity. D. are maximized when total revenues are maximized.