A government that wants to encourage technological advances can do so most directly by ______.

If the Friedman rule for long-term monetary policy were implemented, the result would be

A) inflation. B) neither inflation nor deflation. C) deflation. D) hyperinflation.

The reward offered to households to refrain from spending their income on current consumption and instead save their income is

a. rent b. credit c. utility d. interest e. forgone utility