Compared to the 1960s, the effectiveness lag is ________ due to ________
A) shorter, changes in fiscal policy
B) longer, structural changes in the economy
C) shorter, deregulation
D) longer, increased sensitivity of consumer spending to interest rates
B
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As a result of money in an economy,
A) transaction costs are higher than would be the case in a barter economy. B) people are greedier than in a barter economy. C) real Gross Domestic Product (GDP) and economic growth are greater than they would be in a barter economy. D) stealing exists and people have to find ways to prevent theft.
Which of the following is true regarding demand?
i. Demand is the relationship between quantity demanded and the price of a good when all other influences on buying plans remain the same. ii. Demand refers to one quantity at one time. iii. "Demand" and "quantity demanded" are the same thing. A) i only B) both i and ii C) iii only D) ii only E) both ii and iii