Each of the following took place in the latter half of the 1990s except
A. a falling rate of inflation.
B. a rising stock market.
C. an economic boom.
D. a rising unemployment rate.
D. a rising unemployment rate.
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Use the following graph to answer the next question.
In the graph, Dt is the transactions demand for money, Dm is the total demand for money, and Sm is the supply of money. The market is initially in equilibrium at a 6% interest rate. If the money supply increases, then Sm2 will shift to
A. Sm3 and the interest rate will be 8%. B. Sm3 and the interest rate will be 4%. C. Sm1 and the interest rate will be 8%. D. Sm1 and the interest rate will be 4%.
Which of the statements below best captures the meaning of competition as discussed in Chapter 5?
A) Competition is a process; it makes everyone in the society better off even though there can only be one winner. B) Competition is an individualist system in which people do not concern themselves with the welfare of others. C) Competition is the law of the jungle producing social wealth. D) Competition is the process of trying to outdo others. E) Competition occurs when people strive to satisfy the criteria others are using to allocate valued goods.
In the market in Figure 15.1:
A. social benefits are greater than private benefits. B. the quantity provided by the market is inefficient. C. the market produces less than the social optimum quantity. D. All of these
If the expected future U.S. exchange rate falls, then in the foreign exchange market the current
A) supply of dollars decreases. B) demand for dollars increases. C) quantity supplied of dollars decreases. D) supply of dollars increases. E) quantity supplied of dollars increases.