Refer to the table below. If demand decreased by 4 units at each price, what would the new equilibrium price and quantity be?
A. $3 and 5 units
B. $4 and 6 units
C. $5 and 7 units
D. $6 and 8 units
A. $3 and 5 units
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If the demand for money increases and the Fed wants interest rates to remain unchanged, which of the following would be appropriate policy?
A. Recall Federal Reserve notes from circulation. B. Buy bonds in the open market. C. Raise the discount rate. D. Raise the legal reserve requirement.
The demand for money increases and the demand curve for money shifts rightward as a result of
A) an increase in real GDP. B) a decrease in the price level. C) a decrease in the nominal interest rate. D) an increase in the use of credit cards. E) a decrease in the real interest rate.
The ease with which an asset can be converted into a medium of exchange is known as:
a. volatility. b. liquidity. c. currency. d. Gresham's Law. e. speculative exchange.
Under the ________, the federal deficit was to be eliminated by 1991.
A. Clinton Deficit Eradication bill B. Clayton Act C. McCain-Feingold bill D. Gramm-Rudman-Hollings Act