An externality is the impact of
a. society's decisions on the well-being of society.
b. a person's actions on that person's well-being.
c. one person's actions on the well-being of a bystander.
d. society's decisions on the poorest person in the society.
c
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The figure above shows the market for bank reserves in Futureland. If the Bank of Futureland undertakes an open market sale of government securities that changes the quantity of reserves by $25 billion, then the federal funds rate will
A) remain at 4 percent a year. B) rise to 6 percent a year. C) fall to 4 percent a year. D) change, but more information is needed to determine by how much. E) None of the above answers is correct.
Total utility always decreases when additional amounts of a commodity are consumed.
Answer the following statement true (T) or false (F)
In the graph shown above at a price of $4.50
A. there is a shortage.
B. there is a surplus.
C. there is a both a shortage and a surplus.
D. there is neither a shortage nor a surplus.
If income is $30 billion, the price level is 3, and the stock of money is $18 billion, what is the velocity of money?
A. 1.4 B. 1.8 C. 5 D. 180