An increase in the price level shifts the planned expenditures curve upward
Indicate whether the statement is true or false
FALSE
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The equation of exchange
A) is MV = PY. B) becomes the quantity theory if velocity and the price level are constant. C) cannot be used in an economy with inflation. D) All of the above answers are correct.
Everything else held constant, in the market for reserves, when the federal funds rate is 1%, increasing the interest rate paid on excess reserves from 1% to 2%
A) lowers the federal funds rate. B) raises the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.
Ahmed is going to a film matinee by himself. He purchases a ticket, a jumbo tub of popcorn, a box of Raisinets, and a Slurpee. Which of the following likely has the highest marginal utility for him?
a. a second ticket to the same movie b. a second tub of popcorn c. a second box of Raisinets d. a second straw for his Slurpee
In this consumer surplus graph, what is the maximum amount Emily is willing to pay for a third glass of iced tea?
a. four dollars
b. three dollars
c. one dollar
d. fifty cents