If money demand does not depend upon income, then
a. monetary policy cannot have any effect upon the economy.
b. monetary policy will only affect the level of the price level.
c. monetary policy will only affect interest rates.
d. monetary policy will have a larger impact on income.
A
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On an afternoon that a class meets, you could alternatively study for an exam that will take place in another class the next morning, go to a movie with a friend, or, most desirable to you at present, take a nap
The opportunity cost of attending the afternoon class is A) forgoing the nap. B) missing seeing the movie with your friend. C) giving up the time to study for the next morning's exam. D) being unable to engage in all three of the above activities.
One advantage of a money system compared to a barter system is that
A. barter never works. B. money creates the need for banks. C. money is more efficient. D. everyone has money.
In general, the more of an individual's total budget that is spent on a given product, the
a. greater the supply-side response b. less elastic is the demand for that good c. more elastic is the demand for that good d. more the demand curve will shift when the price changes e. less the demand curve will shift when the price changes
It is possible to analyze education decisions in a manner similar to the decision to acquire more
a. capital. b. leisure. c. work. d. goods and services.