Are outstanding credit card balances counted as part of the money supply?
What will be an ideal response?
No; money is an asset, while the credit card balances are a liability. Thus, they are not included in the money supply figures.
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The outlet substitution bias is most likely to put ________ and so ________ the inflation rate
A) a downward bias into the CPI; overstate B) no bias into the CPI because it is such a small effect; have no effect on C) a downward bias into the CPI; understate D) an upward bias into the CPI; overstate E) an upward bias into the CPI; understate
In the above figure, the letters A, B, and C represent which positions in the business cycle?
A) peak, expansion, and recession, respectively B) recession, expansion, and peak, respectively C) expansion, peak, and recession, respectively D) peak, recession, and expansion, respectively