The price level rises if either
a. money demand or money supply shifts rightward.
b. money demand shifts rightward or money supply shifts leftward.
c. money demand shifts leftward or money supply shifts rightward.
d. money demand or money supply shifts leftward.
c
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Pork can be used to produce bacon or sausage, but not both. If the price of bacon rises for some reason, then, everything else equal,
A. the price of sausage will rise. B. the price of sausage will fall. C. the resources used in raising pork will become more expensive. D. the resources used in raising pork will become less expensive.
A Big Mac costs $4.00 in the United States and 9.00 reals in Brazil. If the exchange rate is 2 reals per dollar, what is the dollar cost of a Big Mac in Brazil?
A) $0.89 B) $2.25 C) $4.50 D) $8.00
Moral hazard is:
A. when individuals make exchanges in the grey market. B. the tendency for people to behave in a riskier way when they're insured. C. when one party acts in a way that is ethically outside the norm in a market exchange. D. when both parties act in a way that is ethically outside the norm in a market exchange.
In the Standard Oil case, the company was accused of violating the law that prohibits
A. firms from attempting to undercut competitors' prices. B. charging prices that are unfairly too high. C. firms from using their monopoly in one market to increase market share in another. D. firms from successfully achieving monopoly status.