The period when output and living standards decline is referred to as:

The major problem with using strawberries as money is the problem of

a. homogeneity b. divisibility c. portability d. durability e. scarcity or abundance

Suppose that the Federal Reserve Open Market Committee adheres to the ideas expressed by ________. If the economy moves into a recession, the Fed would recommend that the federal funds target rate decrease as long as the inflation rate did not rise above

the publicly announced goal for inflation. A) the gold standard B) the monetarist school of thought C) inflation targeting D) the Taylor Rule