Use the following graph to answer the next question.
If the initial equilibrium interest rate was 5% and the money supply increased by $100 billion, then the new interest rate would be
A. 1%.
B. 2%.
C. 3%.
D. 4%.
Answer: C
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To two hunters, a deer running in a forest is
A) nonrival and nonexcludable. B) nonrival and excludable. C) rival and nonexcludable. D) rival and excludable.
From 1680 to 1770 average ship speeds:
a. increased by 100 percent. b. increased by 80 percent. c. increased by 75 percent. d. decreased by 50 percent. e. did not change appreciably.
If on Tuesday you can buy 125 yen per U.S. dollar and on Wednesday you can buy 120 yen per U.S. dollar,
a. both the U.S. dollar and the yen have appreciated. b. both the U.S. dollar and the yen have depreciated. c. the U.S. dollar has appreciated and the yen has depreciated. d. the U.S. dollar has depreciated and the yen has appreciated.
Exhibit 11-12 A monopsonist
In Exhibit 11-12, we know this exhibit shows a monopsonistic labor market because:
A. the MRP curve slopes down. B. the market supply of labor curve is horizontal. C. the MFC curve lies above the supply of labor curve. D. the MRP curve lies below the supply of labor curve.