Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?
A) 1
B) 2
C) 3
D) 4
C
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If the money demand function is given by Md = 10 + 0.2Y ? 10r then a 10-unit increase in the quantity of money will cause the LM schedule to shifts to
a. to the right by 10 units. b. the right by 50 units. c. to the left by 40 units. d. to the left by 50 units. e. to the right by 40 units.
Which of the following would be the best example of a spot market?
a. the market for fine art b. the market for bananas c. the market for stocks and bonds d. the market for baseball cards
Relative purchasing power parity is:
a. More accurate the shorter the time period. b. Worse than absolute purchasing power parity at predicting changes in exchange rates. c. Highly inaccurate because of the conflict between monetary policy and fiscal policy. d. More accurate the longer the period of time. e. All the above.
Suppose that over the last year the price of copper increased from $1.70 a pound to $1.79 per pound. Over the same time a measure of the overall price level increased from 300 to 309 . The price of copper increased by
a. less than inflation, and this means it became relatively less scarce. b. less than inflation, and this means it became scarcer. c. more than inflation, and this means it became scarcer. d. more than inflation, but this doesn't necessarily mean that it become scarcer.