If the market for wheat is in equilibrium, the quantity of wheat demanded will equal the quantity of wheat supplied
a. True
b. False
Indicate whether the statement is true or false
True
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A contractionary monetary policy decreases net exports by ________ interest rates and ________ the value of the dollar
A) lowering real; decreasing B) lowering real; increasing C) raising nominal; increasing D) raising real; increasing
Suppose Charley only purchases boardgames (B) and haircuts (H) with his income
If the price of boardgames increases by 100% while the price of haircuts increases by 300%, how will the MRT change (consider the budget constraint drawn on a graph with boardgames on the horizontal axis)?
Suppose that a major natural disaster destroys a large part of a country's capital stock but miraculously does not cause anybody bodily harm. What will happen to the real wage rate?
A. It will not change. B. It will rise. C. It will fall. D. It could rise or fall.
(Last Word) Which of the following explanations argues that the Great Recession resulted from asset-price bubbles caused by euphoria and debt-fueled speculation?
A. Minsky explanation. B. Austrian explanation. C. Stimulus explanation. D. Structural explanation.