The Fed's current position towards the existing monetary aggregates is
A) it is convinced that M1 is the best measure of the money supply.
B) it is convinced that M2 is the best measure of the money supply.
C) it is an issue of ongoing research.
D) it is reverting to considering currency alone as the best measure of the money supply.
C
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Two firms, Alpha and Beta, produce identical computer hard drives. They have identical costs, and the hard drives they produce are identical. The industry is a natural duopoly
Alpha and Beta enter into a collusive agreement, according to which they split the market equally. If both firms comply with the agreement A) together they will operate in a way indistinguishable from a monopoly. B) the price of a hard drive will be equal to marginal cost. C) each firm will make zero economic profit. D) the oligopoly will produce more hard drives than a profit-maximizing monopoly would produce.
When deciding whether the economy has entered an economic recession, the NBER's Business Cycle Dating Committee examines and compares the behavior of various measures of broad activity
The measures the committee focuses on include all of the following except A) real GDP measured on the product and income sides. B) production data for specific, individual industries. C) economy-wide employment. D) real income.