In most economies, resources are allocated by
A) a central planning board.
B) a dictator.
C) the combined and decentralized actions of millions of people.
D) the majority's will.
C
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The liquidity effect indicates that expansionary monetary policy causes
A) interest rates to fall. B) interest rates to rise. C) bond prices to fall. D) inflation.
Mixed bundling:
A. is the practice of selling several products together as a package. B. is the practice of selling the same good to different types of consumers at different prices. C. is the practice of selling several products together as a package while also offering those products for sale individually. D. is the practice of selling goods in bulk at a reduced per unit price.
Excess reserves equal
A) total reserves less required reserves. B) required reserves less total reserves. C) total reserves plus required reserves. D) required reserves divided by total reserves.
Using Figure 1 below, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2.
B. P3 and Y1.
C. P2 and Y3.
D. P2 and Y2.