From a monetarist perspective, instability in the macro economy arises from
A. the instability of velocity as a policy tool.
B. the use of a monetary rule for monetary policy.
C. secular trends in the economy.
D. changes in monetary policy.
Answer: D
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A U.S. boycott against Mexican tuna caught in nets was
A) not upheld by the WTO on the grounds that killing dolphins in tuna nets does not harm the United States directly. B) not upheld by the WTO on the grounds that U.S. ships could still use nets to catch tuna. C) upheld by the WTO on the grounds that the use of nets to catch tuna also kills dolphins. D) upheld by the WTO on the grounds that nations can impose any environmental standards on other nations.
If a good is inferior, then it has an income elasticity of demand that is
A) equal to zero. B) greater than zero. C) less than zero. D) greater than one. E) undefined.