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Sec 30.1 MC The Classical Theory of Inflation

Sec 30.1 MC The Classical Theory of Inflation

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时间：2019-09-23

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1、1. Theclassicaltheoryofinflation a. isalsoknownasthequantitytheoryofmoney. b. wasdevelopedbysomeoftheearliesteconomicthinkers. c. isusedbymostmoderneconomiststoexplainthelong-rundeterminantsoftheinflationrate. d. Alloftheabovearecorrect.ANSWER:  dDIFFICULTY:  EasyREFERENCES:  TheClassicalTheoryo

2、fInflationLEARNING OBJECTIVES:  ECON.MANK.124-Explaintherelationshipbetweenpricesandthevalueofmoney.TOPICS:  MacroeconomicmodelsClassicaleconomicsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  001.30.1-MC-MANK082. Thequantitytheoryofmoney a. isafairlyrecentadditiontoeconomictheory. b. canexplainbothmod

3、erateinflationandhyperinflation. c. arguesthatinflationiscausedbytoolittlemoneyintheeconomy. d. Alloftheabovearecorrect.ANSWER:  bDIFFICULTY:  EasyREFERENCES:  TheClassicalTheoryofInflationLEARNING OBJECTIVES:  ECON.MANK.124-Explaintherelationshipbetweenpricesandthevalueofmoney.TOPICS:  MoneyQua

4、ntitytheoryofmoneyKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  002.30.1-MC-MANK083. Toexplainthelong-rundeterminantsofthepricelevelandtheinflationrate,mosteconomiststodayrelyonthe a. quantitytheoryofmoney. b. price-indextheoryofmoney. c. theoryofhyperinflation. d. disequilibriumtheoryofmoneyandinflat

5、ion.ANSWER:  aDIFFICULTY:  EasyREFERENCES:  TheClassicalTheoryofInflationLEARNING OBJECTIVES:  ECON.MANK.124-Explaintherelationshipbetweenpricesandthevalueofmoney.TOPICS:  MoneyQuantitytheoryofmoneyKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  003.30.1-MC-MANK084. Whenthepricelevelfalls,thenumberofdol

6、larsneededtobuyarepresentativebasketofgoods a. increases,sothevalueofmoneyrises.CopyrightCengageLearning.PoweredbyCognero.Page 84 b. increases,sothevalueofmoneyfalls. c. decreases,sothevalueofmoneyrises. d. decreases,sothevalueofmoneyfalls.ANSWER:  cDIFFICULTY:  EasyREFERENCES:  TheClassicalTheo

7、ryofInflationLEARNING OBJECTIVES:  ECON.MANK.124-Explaintherelationshipbetweenpricesandthevalueofmoney.TOPICS:  DeflationPricelevelsKEYWORDS:  BLOOM'S:KnowledgeCUSTOM ID:  004.30.1-MC-MANK085. Whenthepricelevelrises,thenumbe

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