Which of the following would cause a leftward shift of the supply curve for computers?
a. an increase in the price of printed circuit boards used to build computers
b. a decrease in the price of electricity
c. an increase in incomes of consumers
d. a decrease in the price of computers
e. a decrease in the size of the population
A
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An increase in the price level real wealth, which causes consumption to
A) raises; decrease B) lowers; increase C) lowers; decrease D) raises; increase
Which of the following statements is false?
A) Currency is money, but money is more than just currency. B) M1 is a component of M2. C) Retail money market mutual funds are part of M2, but institutional money market mutual funds are not. D) Credit cards are money since they are widely accepted for purposes of exchange. E) Money reduces the transaction costs of making exchanges.
As the Fed responded to the financial crisis that followed the collapse of the housing market, certain banks were deemed too:
A. large to fail, and were consequently purchased by the government. B. small to fail, as they were easy to save. C. large to stay afloat, as they would be too costly to save. D. large to fail, as their failure would carry the risk of causing a domino effect in the highly integrated financial system.
If an economy grows at 6 percent per year, how many years would it take for real GDP to double?
What will be an ideal response?