To qualify as money, a commodity
must have a value in exchange greater than its intrinsic value.
must have an intrinsic value greater than its value in exchange.
may have a value in exchange either equal to or greater than its intrinsic value.
may have a value in exchange either equal to or greater than its intrinsic value.
Which of the following does not cause a demand-pull inflation?
Increases in governmental purchases.
Increases in net exports.
Increases in oil prices.
Increases in the money supply.
The distinction between a debtor nation and a net borrower or between a creditor nation
and a net lender depends on the
distinction between the stock of borrowing or lending and current borrowing or
lending.
distinction between domestic savings and investment in other countries.
domestic monetary base of fiat currency countries and that of commodity currency
countries.
resolution of deficits and surpluses in international accounts through the use of
official and nonofficial reserves by the central bank.
The key to reaching high per capita income level is
working long hours.
attaining high rates of economic growth.
cutting taxation rates to encourage investment.
stimulating aggregate demand aggressively.
Property rights are
the rights to use money in exchange for goods and services.
rights that do not include the right to own financial assets.
rights that include the right to own financial, but not physical assets.
social arrangements that govern the ownership, use and disposal of goods and
factors of production.
Because of an increase in expected future profit, investment increases by 500 million.
In the short run, which condition increases the effects of this change on equilibrium
real GDP?
A flatter short-run aggregate supply curve.
A steeper short-run aggregate supply curve.
A small value for the marginal propensity to consume.
The presence of income taxes.
A drop in the price level causes
the aggregate expenditure curve to shift downward and produces movement along
the aggregate demand curve.
the aggregate expenditure to shift upward and the aggregate demand curve to shift
rightward.
the aggregate expenditure to shift upward and movement along the aggregate
demand curve.
movement along both the aggregate expenditure curve and the aggregate demand
curve.
One feature of ration expectation theory is that
forecasts of the inflation rate will never be wrong if all available information is
used.
the forecast error is zero.
the expected absolute value of the forecast error is zero.
rational expectations are correct on average.
Critics of the real business cycle model argue that
the impulse for a business cycle is technological change.
investment spending is very strongly related to the real interest rate.
investment spending is only weakly related to the real interest rate.
labor supply is very strongly related to the real interest rate.
labor supply is only strongly weakly related to the real interest rate.
Neoclassical growth theory asserts that
technological progress is determined by investment.
technological progress is determined by saving.
technological progress is exogenous and a pure change event.
population growth does not respond to any economic forces.
population growth rises with real wages.
both population growth and technological progress respond to economic incentives.
Which statement(s) of the following is (are) correct?
The monetary base comprises currencies in circulation and commercial bank’s
deposits at the central bank.
Required reserves are not a part of the monetary base
Gold holdings and governmental deposits at the central bank are a part of the
monetary base.
The monetary base represents the quantity of money circulating in the economy.
The monetary base represents the system’s potential for money supply expansion.
One reason/Reasons that the aggregate demand curve has a negative slope is/are
because
people buy more goods in the future when the price level rises.
people buy more foreign goods when the domestic price level rises.
firms supply more when prices rise.
nominal interest rates vary with the price level.
nominal cash balances vary with the price level.
解釋 “Tobin’s q”。
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