Which determinant shifts supply?
a. income
b. prices of related goods
c. technology
d. tastes and preferences
c. technology
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The above diagram has a demand for money curve. Suppose the Fed initially sets the quantity of money equal to $0.6 trillion. Draw the supply of money curve in the figure
What is the equilibrium interest rate? Now suppose the Fed increases the quantity of money to $0.9 trillion. Draw the new supply curve. What is the new equilibrium interest rate?
According to economist Paul Romer, economies that wish to experience growth must
A) invest most of their savings in national defense. B) invest in knowledge. C) drastically lower their standards of living. D) become command economies.
Regulation that is based upon the cost of providing the good or service is known as
A) rate-of-return regulation. B) cost-of-service regulation. C) social regulation. D) deregulation.
The maximin criterion seeks to minimize the maximum payoffs in order to win.
Answer the following statement true (T) or false (F)