In the original Austin Powers, Dr. Evil is cryogenically frozen for thirty years (from the late 1960s to the late 1990s). Upon his return he hatches a plan to extort one million dollars from various world governments. His henchmen are unimpressed
What type(s) of inflation have made Dr. Evil's proposed blackmail amount seem too small?
A) cost-push inflation B) both cost-push and demand-pull inflation
C) both cost-price and price-pull inflation D) demand-pull inflation
B
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Ration coupons are typically associated with price floors
Indicate whether the statement is true or false
The aggregate-demand curve
a. has a slope that is explained in the same way as the slope of the demand curve for a particular product. b. is vertical in the long run. c. shows an inverse relation between the price level and the quantity of all goods and services demanded. d. All of the above are correct.
If the federal funds rate falls, economic growth is most likely to do what?
A. speed up B. show no change C. slow down
If the total money supply is $6 trillion, real Gross Domestic Product (GDP) is $9 trillion and the price level is 2, then the equation of exchange tells us that velocity equals
A. 3. B. 13.5. C. 18. D. 27.