If the Fed's open market operations expand the money supply, one can expect
a. a decrease in excess reserves.
b. bond prices to rise.
c. interest rates to rise.
d. open market sales of T-bills.
b
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The AD curve is a graph depicting the
A) relationship between the price level and the quantity of real GDP demanded. B) relationship between the price level and potential GDP. C) relationship between the price level and the quantity of real GDP supplied. D) business cycle during expansions and recessions. E) relationship between the aggregate quantity of real GDP demanded and the aggregate quantity of real GDP supplied.
Aaron's neighbor Cliff keeps his front yard well-manicured and plants beautiful flowers which Aaron enjoys. If local law prevents Cliff from fencing his yard, the beauty of Cliff's front yard is:
A. a private good. B. nonrival. C. both nonrival and nonexcludable. D. nonexcludable.
(Consider This) The Consider This box "Of Catfish and Art (and Other Things in Common)" lists examples of recent antitrust cases involving:
A. monopolization. B. tying contracts. C. price-fixing. D. horizontal mergers.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward