Which of the following would lead to a rightward movement along a stationary money demand curve?
a. A decrease in the interest rate
b. A decrease in the price level
c. An increase in the interest rate
d. An increase in the price level
e. An increase in real income
A
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Suppose that Tracy and Pat start a business. Because of a series of bad decisions by Tracy, the company goes bankrupt, owing a total of $50,000. Tracy is penniless and Pat is a millionaire
If the company were organized as a partnership, Pat would be responsible for A) over $1 million of debt. B) $50,000 of debt. C) $25,000 of debt. D) $0 of debt.
The price of a given good is likely to be less variable with speculators than it would be without speculators
Indicate whether the statement is true or false
Which of the following members of the European Union has NOT adopted the euro?
A) Denmark B) Estonia C) Germany D) Greece
If one country can produce a good with fewer resources than another country, this is called:
A. specialization. B. geographic advantage. C. comparative advantage. D. absolute advantage.