Monetarists argue that an exogenous increase in investment spending is likely to be offset by a decrease in
A) the money supply.
B) interest rates.
C) government spending.
D) consumption.
D
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The figure above shows Prakash's and Gail's production possibilities frontiers for writing books and magazine articles
a. What is Prakash's opportunity cost of a book? What is Gail's opportunity cost? Who has the comparative advantage in writing books? b. Who has the comparative advantage in writing magazine articles? c. According to their comparative advantages, who should write books and who should write magazine articles?
The figure below shows the demand for meals at lunch and dinner for a proposed new restaurant. Suppose the marginal cost of a meal (both lunch and dinner) is constant at $10 per meal and marginal cost of providing the capacity is constant at $5 per meal. Once the managers have determined the profit-maximizing capacity, at dinner they will serve ________ meals and set a price of ________ per meal.
A) 200; $35 B) 800; $25 C) 200; $20 D) 600; $30
The partnership is the least common form of business organization in the United States
a. True b. False
The condition where firms want to sell more than consumers want to buy is called
A. a market collapse. B. an equilibrium. C. a shortage. D. a surplus.