An attempt by a central bank to alter the money supply by buying or selling domestic assets
A) will leave both domestic money supply and foreign reserves unchanged.
B) will cause an offsetting change in aggregate demand.
C) will lead to a rise in domestic employment and output.
D) will lead to a decrease in domestic employment and output.
E) will cause an offsetting change in foreign reserves and leave the domestic money supply unchanged.
E
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The demand curve for tickets to the George Winston concert (with special guest star, Kenny G) is given as follows: Q = 200 - 0.1P At a price of $30, what is the consumer surplus from concert tickets?
A) $0 B) $20 C) $2,000 D) $1,970 E) $194,045
Economists argue that the union wage advantage
A) has been estimated to be 100% in the private sector. B) in the private sector is a 4% increase in wages for union workers over nonunion workers. C) reached its height in 2000 in the private sector. D) has been close to zero since World War II in the private sector.
A point outside a production possibilities curve indicates
A. that resources are being used very efficiently. B. an output combination that society cannot attain given its current level of resources and technology. C. that both goods are characterized by increasing costs. D. that resources are not being used efficiently.
In the expectations-augmented Phillips curve, ? = ?e - 3(u - 0.06). When ? = 0.06 and ?e = 0.03, the unemployment rate is
A. 0.04. B. 0.05. C. 0.06. D. 0.07.