In financial markets, buyers are people who:
A. have cash promised to them at some future date.
B. have cash on hand and are willing to let others use it, for a price.
C. want to spend money on something of value right now, but don't have cash on hand.
D. want to spend money on something of big value in the future, but don't know how to save for it.
Answer: C
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A short-run equilibrium occurs
A) at the intersection of the short-run aggregate supply curve and the aggregate demand curve. B) at the real GDP associated with full employment. C) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve. D) at the intersection of the long-run aggregate supply curve and the aggregate demand curve.
According to classical economists, in recessions, the government should
A) stimulate the economy to increase demand. B) actively use fiscal policy to combat the recession. C) increase the minimum wage so that poor people will be able to afford necessities. D) eliminate barriers to labor market adjustment, such as burdensome regulations on businesses.
If the Fed aims to achieve a level of unemployment below its natural rate, it must follow time-inconsistent policies
a. True b. False Indicate whether the statement is true or false
A pooled OLS estimator that is based on the time-demeaned variables is called the _____.
A. random effects estimator B. fixed effects estimator C. least absolute deviations estimator D. instrumental variable estimator