Gdp
a. is used to monitor the performance of the overall economy but is not the single best measure of a society's economic well-being.
b. is used to monitor the performance of the overall economy and is the single best measure of a society's economic well-being.
c. is not used to monitor the performance of the overall economy but is the single best measure of a society's economic well-being.
d. is not used to monitor the performance of the overall economy and is not the single best measure of a society's economic well-being.
b
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What effect does an increase in the nominal interest rate have on the opportunity cost of holding money and on the demand for money curve?
What will be an ideal response?
Monetarists believe:
a. the cause-and-effect relationship hypothesized by the Keynesians understates the impact of stimulative monetary policy. b. the cause-and-effect relationship hypothesized by the Keynesians is an accurate description of how monetary policy works. c. since the economy is operating at full employment, any stimulative monetary policy will cause the inflation rate to rise. d. the cause-and-effect relationship hypothesized by the Keynesians is backwards, and decreases in the money supply actually stimulate economic activity. e. the cause-and-effect relationship hypothesized by Keynesians will not work because investment does not respond to changes in interest rates.