Which factor will not cause an increase in the supply of good X?
A. an improvement in the technology used to produce good X
B. an increase in the price of inputs used to produce good X
C. a decrease in the price of labor used to produce good X
D. an increase in the number of firms that sell good X
Ans: B. an increase in the price of inputs used to produce good X
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The monetary base is the
A) minimum reserve banks must hold to cover any losses from unpaid loans. B) sum of coins, Federal Reserve notes, and banks' reserves at the Fed. C) sum of gold and foreign exchange held by the Fed. D) sum of government securities and loans to banks held by the Fed. E) sum of coins, required reserves, and banks' loans.
Danny Sever is a U.S. soldier. He produces a(n)
a. entitlement b. private good c. public good d. transfer payment e. merit good
Type I error is:
a. the statistical notion of accepting a false hypothesis. b. when a harmful drug is allowed into the market. c. difficult to detect and virtually ignored by the FDA. d. when a beneficial drug is blocked from entering a market.
All else remaining equal, if the amount of money market deposit accounts increase, this will increase the size of:
a) only M1. b) only M2. c) M1 and M2. d) neither M1 nor M2.