Since the 1980s,
a. monetarism reached its peak.
b. the influence of the monetarists and Keynesians both eroded.
c. monetarism re-established itself with a stable money/income relationship.
d. monetarism declined in influence as Keyesian thought overtook it in influence.
B
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Why does the substitution bias cause the consumer price index to overstate inflation and the cost of living? Why does the increase in quality bias cause the consumer price index to overstate inflation and the cost of living?
What will be an ideal response?
Lisa eats both pizzas and burritos. If the price of a pizza increases, Lisa's opportunity set
A) becomes larger. B) becomes smaller. C) is unchanged. D) cannot be determined without more information.
A pure monopoly
a. is the only firm that produces all of the products its competitors produce b. is the single seller of a unique product c. is bigger than all its competitors combined d. has only one customer e. is always profitable in the short run
When economists express the deficit, they generally do it as:
A. the total amount the government overspent. B. a percentage of the amount of taxes they collect. C. a percentage of total GDP. D. a partitioned amount based on where the government spent the money.