Recall the Application about the behavior of prices in retail catalogs to answer the following question(s). In the Application, Mark Bils and Peter Klenow's findings were:
A. different from Anil Kashyap's findings. They found prices changing more frequently.
B. different from Anil Kashyap's findings. They found prices changing less frequently.
C. similar to Anil Kashyap's findings. They found prices changing very frequently.
D. similar to Anil Kashyap's findings. They found prices changing very infrequently.
Answer: A
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The strategic argument for protectionism holds that a nation may sometimes have to threaten protectionism to induce other countries to drop their own protectionist measures.
Answer the following statement true (T) or false (F)
Consumers lose when a market is served by a monopolist to the extent that units of output for which the price consumers are willing to pay exceeds the marginal costs of production are not produced
Indicate whether the statement is true or false
Why was the Fed reluctant to rescue insolvent banks?
A) It thought it may lead to moral hazard. B) It thought it may lead to adverse selection. C) It thought they were still liquid. D) It did not think they were insolvent.
According to the quantity theory of money and prices, a 2 percent increase in the money supply ultimately leads to
A) a 2 percent increase in real GDP. B) a 2 percent increase in wages. C) a 2 percent increase in the price level. D) a 2 percent increase in velocity.