If the Fed increases the money supply, the equilibrium value of money decreases and the equilibrium price level increases
a. True
b. False
Indicate whether the statement is true or false
True
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When government runs a budget deficit, it makes up the difference by:
A. issuing government bonds. B. increasing transfer payments. C. paying down outstanding debt. D. increasing public saving.
In the case of perfectly elastic demand, the demand curve is:
A. upward sloping. B. downward sloping. C. vertical. D. horizontal.
According to the above table, national income is
A. $10,646 billion. B. $13,271 billion. C. $10,770 billion. D. $11,917 billion.
Over the past 100 years real GDP per person in the United States, on average, has
A) decreased by about 5 percent per year. B) increased by about 2 percent per year. C) increased by about 5 percent per year. D) increased by about 10 percent per year.