In his famous essay “The Role of Monetary Policy” Milton Friedman says this: “… there is always a temporary trade-off between inflation and unemployment; there is no permanent trade-off. The temporary trade-off comes not from inflation per se, but from unanticipated inflation, which generally means from a rising rate of inflation. The widespread belief that there is a permanent trade-off is a sophisticated version of the confusion between ‘high and rising’ that we call recognize in simpler forms. A rising rate of inflation may reduce unemployment, a high rate will not.”  This means which of the following?

Friedman”s quote is challenging what in Macro theory in his Presidential Address: 

According to William Easterly in The Elusive Quest for Growth, the promotion of development in underdeveloped countries by governments of industrialized nations:

Suppose the money supply increases by 4%, velocity increases by 4%, and real output increases by 3%. What is the rate of inflation or deflation?

Suppose we have the following inflation and expectations data.  Year     Expected Inflation     Actual Inflation  1                          0%                                0% 2                          0%                                2% 3                          2%                                4% 4                          4%                                6% In year 5, which of the following would be true between Keynesians (K), monetarists (M) and rational expectations (RE) theorist concerning the expected rate of inflation?

What is true with respect to the macro models of J.M. Keynes and Milton Friedman?

In the essay by Professors D. Acemoglu and J. Robinson entitled, “So Close and Yet so Different: The Economics of the Rio Grande” they point out that a prime reason for the drastically different standards of living across the USA and Mexico border arises from:

Which economic policy model is not true for the various schools of macro thought?

What is not true?

A student performs the lab on an unknown metal and obtains the following data: Measurement Result Mass of metal (g) 0.0285 g Temperature of laboratory (°C) 21°C Volume of H2 gas produced (mL) 26.5 mL Gas Constant R 0.08206 (L atm)/(mol K) Pressure in Laboratory (atm) P 0.975 atm Using this data, complete the following calculations:   Molar ratio of H:M assuming a 1:1 ratio of M to H2. We will assume a 1:1 molar ratio for this experiment. Moles of metal used: ________________