Which of the following is true of the unit of account function of money?
a. It makes money durable in nature
b. It makes the relative values of goods and services more easily known.
c. It implies that money should be made of something valuable.
d. It implies that money can be used to save up purchasing power.
e. It implies that money is more easily counted than goods.
b
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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.
All of the following shift the aggregate demand curve to the right EXCEPT
A) an increase in expected future profit. B) an increase in foreign income. C) an increase in government expenditure. D) an increase in taxes. E) an expansion of the global economy.