Question 23 Inflation will be more difficult for the monetary authorities to con

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Question 23

Inflation will be more difficult for the monetary authorities to contain if most people expect a rapidly changing price level, because:

Question 24

If people's expectations about price level changes enter into their economic decisions, which of the following monetary policies would be most likely to promote price stability?

Question 25

Using the equation GDP = C + I + G + (Exports - Imports), if the US economy is at full employment, with widespread inflation, an increase in its exports and a decrease in its imports would tend to:

Question 26

Assume that between 1992 and 2002 the GDP in a certain economy increases from $1 trillion to $2 trillion, while the GDP price index increases from 100 to 200. how much is GDP in 2002 stated in terms of 1992 dollars?

sellers raise their prices with no regard for demand when their costs have risen.

Explanation / Answer

23.expectations of rapid inflation reduce the public's willingness to hold money balances

24.Frequent and publicly announced changes in the growth rate of the money supply

25.reduce inflation in the US, but increase inflation in other countries

26.$1/2 trillion

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Question 23 Inflation will be more difficult for the monetary authorities to con

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