Money serves as a
A) medium of exchange, unit of account, and store of value.
B) means to conduct barter transactions.
C) means of payment, legal obligation, and public tax.
D) means of worker exploitation and capitalist enrichment.
E) means of settling debts, transaction lubricant, and private commodity.
A
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One of the major weaknesses of the Federal Reserve Bank of St. Louis econometric model was that it
A) was large and cumbersome. B) was limited to analyzing an economy with substantial unemployment. C) did not specify the categories of private spending that were affected by monetary policy. D) included a government spending multiplier that was clearly too high.
The unbalanced development strategy relies on
a. the government broadening its time horizon b. economic dualism, that is, government and the private sector c. the balancing effect of foreign aid and investment d. investments creating new supply capacities, which create new demands, which stimulates investments in new supply capacities e. incentives created by income disparity