The use of money adds to wealth because it tends to increase people's
A) options.
B) risks.
C) costs.
D) expenditures.
E) elasticity of demand.
A
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Screening is the action
A) taken by an informed person to determine the information possessed by uninformed people. B) taken by an uninformed person to determine the information possessed by informed people. C) taken to offset signaling. D) that is cheaper and more effective than cheap talk.
One reason the Fed tolerates ongoing inflation is because it
a. believes that the CPI understates the actual inflation rate b. believes that the CPI overstates the actual inflation rate c. accepts the idea that a zero inflation rate would make labor markets work more smoothly d. wants to focus more on price stability than on full employment e. is uncertain about the long-run stability of the Phillips curve