A point inside the production possibilities curve may indicate that resources are not being used efficiently.

The consumer price index (CPI) includes only a market basket of goods and services purchased by the typical urban consumer

a. True b. False Indicate whether the statement is true or false

The monetary rule is the view of the:

A. Keynesians that monetary policy is most important. B. Monetarists that monetary policy is most important. C. Classical economists that monetary policy is most important. D. Monetarists that the Fed should expand the money supply at a constant rate.