Which of the following statements is (are) correct?
a. Both the monetarists and classicists agree that output is completely supply determined, even in the short run
b. The monetarists do not agree with the classical position that monetary policy cannot be used to influence output.
c. According to both the monetarists and the classicists, output is determined by demand side factors in the short run
d. None of the above
B
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In 2008, Timothy Geithner referred to investment banks, money market mutual funds, hedge funds, and other financial firms engaged in similar activities as the
A) shadow banking system. B) securitization market. C) commercial banking system. D) secondary market.
Trade between nations A and B:
a. leaves the production possibilities of nation A unchanged. b. leaves the production possibilities of nation B unchanged. c. increases the consumption possibilities of both nations. d. All of these are true.