Bram Finds a Tablet on the Counter at Caffe Café

question 22

Multiple Choice

Bram finds a tablet on the counter at Caffe Café. He takes the tablet to a police station. A police officer tells Bram that if the tablet is not claimed by a certain time,Bram can obtain title to it. This is acquiring possession by

• A)an estray statute.
• B)a bailment.
• C)confusion.
• D)production.

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Definitions:

Monetary Neutrality

The concept that changes in the money supply only affect nominal variables, like prices, not real variables like output or employment in the long term.

Classical Dichotomy

The theoretical separation of nominal and real variables

Short-Run Phillips

A theoretical framework that implies a short-term inverse correlation between inflation rates and unemployment levels.

Classical Dichotomy

The theoretical separation of nominal and real variables in an economy, suggesting that changes in the money supply only affect nominal variables and not real variables like output.