Unpriced by-products of production or consumption that provide benefits to other consumers or other firms are known as

In 2008 and 2009, the quantity theory of money did a ________ job of predicting year-to-year changes in the inflation rate because ________

A) good; interest rates behaved predictably B) poor; the Fed changed the growth rate of the quantity of money too quickly C) poor; velocity of circulation plunged D) good; real GDP remained stable E) poor; the price level and the velocity of circulation did not change

If the economy is growing beyond potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in

A) oil prices. B) taxes. C) government purchases. D) the money supply and a decrease in interest rates.