If M3 were 2,000, small denomination time deposits were 300, and large denomination time deposits were 400, how much would M2 be?
Fill in the blank(s) with the appropriate word(s).
2000 - 400 = 1600
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The labels for the axes of the aggregate demand graph should be ________.
A. quantity of a product on the vertical axis and the price of a product on the horizontal axis B. real domestic output on the vertical axis and the price level on the horizontal axis C. real domestic output on the horizontal axis and the price level on the vertical axis D. price of a product on the vertical axis and quantity of a product on the horizontal axis
The figure above shows a nation's production possibilities frontier for apples and oranges
a) What combination of goods is represented by point A? b) What combination of goods is represented by point B? c) Which point represents an unattainable combination of goods?
A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good?
What will be an ideal response?
Assume your roommate is very untidy. According to campus policy, you have a right to live in an uncluttered apartment. Suppose she/he gets a $200 benefit from being untidy but imposes a $100 cost on you. The Coase Theorem would suggest an efficient solution can be reached where: a. you continue to live with your messy roommate until you are able to make other living arrangements elsewhere. b
your roommate stops her/his messy habits or you force her/him to move out. c. you pay your roommate at least $100 but no more than $200 to clean up after (her)himself. d. your roommate pays you at least $100 but no more than $200 for the right to be untidy (or to have you clean up after her/him).