The historical data on velocity shows that velocity for
a. M1 has fallen since 1929 and has become more stable since 1981.
b. M1 has risen since 1949 and has become more volatile since 1981.
c. both M1 and M2 have increased since 1949 but have become more stable since 1979.
d. both M1 and M2 have declined since 1949.
b
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Moral hazard encourages people to take risks
a. True b. False Indicate whether the statement is true or false
Increases in resources or improvements in technology will tend to cause a society's production possibilities curve to:
A. become vertical. B. shift inward or to the left. C. shift outward or to the right. D. become horizontal.
As more people quit smoking in the United States, what is expected to happen to the price elasticity of supply of cigarettes?
A) It will decrease. B) It will increase. C) It can increase or decrease. D) It will not change.
Suppose you were to hear a politician defend the minimum wage on the grounds that it would not cause that much unemployment because firms have to hire a certain number of workers, you would know this person to be relying on the ________ argument.
A. consumer and producer surplus B. elasticity C. macroeconomic D. work effort