The creation of the European Union is an example of Hayek's:
a. Human action
b. Human design
c. Spontaneous disorder
d. None of the above
B
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Playing the game in Scenario 13.13 sequentially would
A) not change the equilibrium. B) change the equilibrium to (R1,C1 ). C) change the equilibrium to (R2,C1 ) if R moved first. D) change the equilibrium to (R2,C1 ) if C moved first. E) change the equilibrium to (R2,C2 ).
If velocity remains relatively constant, changes in the money supply can have a predictable effect on nominal GDP.
Answer the following statement true (T) or false (F)
When quantity moves proportionately the same amount as price, demand is
a. elastic, and the price elasticity of demand is 1. b. perfectly elastic, and the price elasticity of demand is infinitely large. c. perfectly inelastic, and the price elasticity of demand is 0. d. unit elastic, and the price elasticity of demand is 1.
Demand deposits $125,000,000 Time deposits: Original maturity (less than 18 months): $1 billion Original maturity (18 months or more): $500 million Use the information above to find this bank's required reserves.
What will be an ideal response?