The two basic types of government regulation are
A) regulation of natural monopolies and regulation of cartels.
B) economic regulation and industry regulation.
C) social regulation and labor law.
D) social regulation and economic regulation.
D
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During the 1960s, many Keynesian economists felt that by studying the Phillips curve
A) policy makers could fine-tune the economy by selecting policies that would produce the exact mix of unemployment and inflation that suited current government objectives. B) policy makers could eliminate even frictional unemployment in the economy. C) the President and Congress did not need to attempt to balance the budget. D) policy makers could dispense with the Federal Reserve's open-market operations.
The supply of loanable funds has a ________ slope because the greater the interest rate, the ________ the reward to saving, and the ________ the quantity of loanable funds supplied
A) positive; lesser; lesser B) negative; lesser; greater C) positive; greater; lesser D) positive; greater; greater
Which macroeconomic model dominated macroeconomic analysis from the early post-World War II era until the late 1960s?
a. The monetarist model b. The Keynesian model c. The classical model d. The new classical model e. None of the above
In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?
A) medium of exchange B) store of value C) unit of account D) store of wealth