Are checks money?
What will be an ideal response?
Checks are instructions to transfer funds from one person's checking account to another person's checking account. Checks are not money, but the checking account deposits that the check transfers are money.
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What is the key feature that differentiates business cycle theories?
A) whether the theory was developed before or after the Great Depression. B) whether the theory is Keynesian or non-Keynesian. C) whether the theory also explains economic growth. D) whether the theory explains how monetary policy works.
Which of the following statements is TRUE regarding the textbook used in this course?
A) The textbook presents only economic theory, so no value judgments are involved in the text. B) The textbook does not include normative statements. C) The microeconomic section of the book includes only positive analysis while the macroeconomic section includes normative analysis. D) The selection of topics included in the book involves value judgments as well as economic theory.