A. the behaviour of trade unions.
B. the quantity of money
C. price and wages
D. the level of aggregate demand for goods and services
A. consistently overestimate the actual rate of inflation in the future.
B. are always correct
C. consistently underestimate the actual rate of inflation in the future
D. are correct on average, but are subject to errors that are distributed randomly
A. fine tuning
C. microeconomics foundations of macroeconomics
D. the classical model
A. the level of aggregate demand for goods and services.
B. prices and wages
C. interest rates
D. the quantity of money
A. it is difficult to measure the value of nominal GDP over time
B. there has been very little fluctuation in the money supply over time.
C. it is difficult to measure the demand for money over time
D. whether velocity is constant or not may depend on how the money supply is measure.
A. stagflation in the late 1970s
B. demand-pull inflation in the 1960s
C. low growth rates in the 1950s
D. The prolonged existence of high unemployment during the Great depression
B. monetary policy
C. fine tuning
D. automatic stablisers
A. the fallacy of composition
B. negative entropy.
D. ceteris paribus