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NURS 135 Exam 1 2024_2025 fully solved & updated
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NURS 135 Exam 1 2024_2025 fully solved & updated
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ECO 4223 Exam 2 with complete solutions2024/2025
In the model of fiat money developed in Lecture 7, the demand for money is the
demand to hold ________. - ANSWER-Irredeemable Paper Bank Notes.
In the model of fiat money developed in Lecture 7, the supply of money is just the
total stock issued by the central bank because fiat monies _________. - ANSWER-
have no non-monetary uses.
Unlike the gold standard, there is _______ mechanism to govern the supply of
money in a fiat money regime. - ANSWER-no automatic
How a central bank conducts monetary policy will depend _____. - ANSWER-on
both the information available to policymakers and the incentives policymakers
face.
In the 1960s and early 1970s, most economists believed there was a stable,
exploitable tradeoff between _____ and ______. - ANSWER-inflation,
unemployment
In the 1970s, the United States experienced _________. - ANSWER-stagflation
The (naiive) Phillips Curve was thought to represent a menu of policy options,
whereby policymakers could achieve a lower unemployment rate so long as they
were willing to put up with _________, and vice versa. - ANSWER-higher inflation
, Notable absent from the (naiive) Phillips Curve was a reasonable assumption
about _________. - ANSWER-Inflation Expectations
When inflation expectations decrease, the expectations augmented Phillips Curve
shifts ________. - ANSWER-down
The long run Phillips Curve is conventionally drawn as a ______ line that
intersects the axis at __________. - ANSWER-horizontal; the natural rate of
unemployment, U".
According to Abrams (2006), political monetary (or business) cycle political
monetary cycle exists in the United States, but only when the President and the
_________ share party allegiance. - ANSWER-Federal Reserve Chair
A country experiences hyperinflation when the price level grows more than
__________. - ANSWER-50 percent per month
Use the rule of 70 to calculate approximately how long it will take prices to double
in a country with an inflation rate of 3 percent per month. - ANSWER-23.3 months
(70/3) months
Use the rule of 70 to calculate the approximate inflation rate in a country that has
seen its price level double in 12.1 years. - ANSWER-5.8 percent per year
(70/12/1) per year
Use the rule of 70 to calculate the approximate inflation rate in a country that has
seen its price level quadruple in 15.9 years. - ANSWER-8.8 percent per year.
15.9/2=7.95
70/7/95=8.8
When inflation is higher than expected, borrowers and employers typically
_______. - ANSWER-gain at the expense of lenders and employees
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