Who is best known for arguing about the long and variable lags of monetary policy?
A) Friedman
B) Keynes
C) Phillips
D) Greenspan
E) Bernanke
A
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Which of the following statements is CORRECT?
A) When both demand and supply increase, the quantity decreases and the price might rise, fall, or remain the same. B) When both demand and supply increase, the price rises and the quantity might increase, decrease, or remain the same. C) When both demand and supply decrease, the quantity increases and the price might rise, fall, or remain the same. D) When both demand and supply decrease, the quantity decreases and the price might rise, fall, or remain the same.
Distinguish between a change in demand and a change in quantity demanded
What will be an ideal response?
Cost-push inflation happens when technological innovation unexpectedly lowers the cost of production, causing increased demand for goods and services
a. True b. False Indicate whether the statement is true or false
If Japan levies tariffs on U.S. goods entering Japan, this will tend in the short run to:
A) benefit both Japanese and U.S. producers. B) damage U.S. producers and benefit Japanese producers. C) benefit U.S producers and damage Japanese producers. D) damage both Japanese and U.S. producers.