Why is defining a market difficult?
a. Government regulations about the exchange of goods and services are complex.
b. The conditions under which buyers and sellers exchange goods and services can vary.
c. Scholars cannot agree on a standard definition.
d. Urban and rural areas have different ways of exchanging goods.
b. The conditions under which buyers and sellers exchange goods and services can vary.
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When will a decrease in aggregate demand not result in a lower inflation rate in the short run?
What will be an ideal response?
Monetary policy credibility has the benefit of ________
A) stabilizing inflation in the short run when faced with positive demand shocks B) stabilizing economic activity in the short run when faced with positive demand shocks C) transmitting the effect of aggregate demand shocks onto short-run aggregate supply D) enhancing the job opportunities of Federal Reserve officials after they leave the central bank
When the interest rate rises, saving becomes ______ rewarding and borrowing becomes ______ costly.
A. less; less B. less; more C. more; less D. more; more
Which of the following is not among the factors that lead to economic growth?
a. Increases in employment b. Increases in the capital stock c. Improvements in technology d. Government transfer programs e. Political stability and an efficient legal system