Which of the following would cause a positive change in quantity demanded?
a. A rise in supply.
b. A fall in supply.
c. A rise in demand.
d. A fall in demand.
a. A rise in supply.
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Assume the Treasury borrows $5 billion from the non-bank public and spends it
The effect on bank reserves is that they will __________ by $5 billion when the Treasury borrows and then bank reserves will __________ by $5 billion when the Treasury spends the money. A) rise; fall B) fall; rise C) rise; rise D) fall; fall
The change in total revenue that results from a one-unit change in the amount of a variable resource used is
a. average resource cost b. marginal resource cost c. marginal product d. marginal revenue product e. average revenue product
In which statement(s) are "demand" and "quantity demanded" used correctly? (I) "An increase in the price of tea will reduce the quantity demanded of tea." (II) "An increase in the price of tea will reduce the demand for sugar used in tea."
a. in both statements I and II b. in statement I only c. in statement II only d. in neither statements I nor II
When a country's central bank temporarily switches from an expansionary to a more conservative monetary policy, one would expect the exchange rate to:
a. depreciate in the short run, then return to its initial value. b. appreciate in the short run, then return to its initial value. c. depreciate in the short run and then stay higher. d. appreciate in the short run and then stay lower.