The current debate about fiscal and monetary policy tends to focus on
a. which policy is less destabilizing.
b. which policy is more effective.
c. whether the Fed can control the money supply.
d. which policy works more quickly.
d
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A critical assumption for the simple money multiplier (1/ rrd) to hold is that
a. banks do not hold excess reserves. b. the public does not increase their level of currency holdings. c. the required reserve ratio has to be greater than one. d. both a and b. e. all of the above.
Which of the following is not a limitation of the survivor technique for measuring the optimum size of firms within an industry?
a. since the technique does not employ actual cost data in the analysis, there is no way to assess the magnitude of the cost differentials between firms of varying size and efficiency. b. the managerial and entrepreneurial aspects of the production process are not included in the analysis c. because of legal factors, the long-run cost curve derived by this technique may be distorted and may not measure the cost curve postulated in economic theory d. a and b e. b and c