1) CNBC financial news reported a few years ago: "Some countries celebrate their anniversaries with fireworks and sparklers. For Canada's 150th, the mint is bringing the light show to its money. A new glow-in-the-dark coin is the first of its kind entered into circulation, according to the Royal Canadian Mint. " The best statement associating the glow-in-the-dark coin with monetary theory is: A) Because this special coin may have value in itself, rather than just for its role as money, it could be viewed as being somewhat similar to "fiat" money and only be held for transaction purposes B) Because this special coin may have value in itself, rather than just for its role as money, it could be viewed as being somewhat similar to "commodity" money, unlike other common fiat money C) Because it may be more costly for the Canadian Mint to produce these coins, using them to replace old coins will cause overall money demand to go down and inflation to go up in Canada. D) Because it may be more costly for the Canadian Mint to produce these coins, using them to replace old coins will cause overall money demand to go down and inflation to go down in Canada. 2) Early in the course we reviewed some large empirical studies about the relation between money, prices, and output. The main common message of these studies is that for most countries A) money appears to be neutral in the short run and in the long run B) money is not neutral in the short run or in the long run C) money appears to be neutral in the long run, but not always in the short run D) money appears to be neutral in the short run, but not always in the long run 3) Early in the course we reviewed some large empirical studies about the relation between money, prices, and output. An important message of these studies is that usually A) countries with low and stable inflation display low short-run correlation between changes in money and prices B) countries with low and stable inflation display high short-run correlation between changes in money and prices C) countries with high inflation display high correlation between changes in money and output in the short run D) countries with high inflation display high correlation between changes in money and output in the long run 4) John Maynard Keynes disagreed with the classical economists because he believed that A) wages and prices adjust quickly to market conditions, so that economic policies are undesirable B) wages and prices adjust quickly to market conditions, so that economic policies are desirable () wages & prices adjust slowly, so expansionary monetary & fiscal policies would raise output. D) wages & prices adjust slowly, so expansionary monetary & Fiscal policies would not raise output