Sherman is an economist who studies how people's financial expectations are formed and how rapidly they adjust to economic changes. This relatively new field of study is known as __________.

1. econometrics
2. game theory
3. experimental economics
4. behavioral economics

Advika is a resident of India who exports hand-dyed fabrics to other nations. Since India has anexchange control system, what does this mean for Advika?

1. Her government trades Indian bonds for any foreign currency that Advika earns.
2. Her government purchases and sells any foreign currency that Advika earns.
3. The Reserve Bank of India keeps all of Advika's foreign currency for her.
4. The Reserve Bank of India manages Advika's foreign currency profits.

According to monetarists, if the money supply expands, how are households most likely to respond?

1. They will spend it.
2. They invest lend it.
3. They will save it.
4. They will do nothing unless real income changes.

The money supply fell during the Great Depression because __________.

1. the monetary base also fell
2. the public held less currency, and the banks held less excess reserves
3. the public held more currency, and the banks held more excess reserves
4. the Fed did not yet exist

In 2016, 91.7% of the adult U.S. population had at least __________.

1. a grade school diploma
2. a trade school certification
3. a high school diploma
4. 2 years of college