Refer to the data. NI is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $362.
B. $372.
C. $447.
D. $402.
D. $402.
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Provide economic explanations of the following puzzling behaviors.
(i) Many risk-averse people choose to buy lottery tickets, even when the lottery does not offer fair odds. (ii) Many furniture stores, instead of simply lowering their prices, offer buyers 6 months interest-free with no money down and no monthly payment. (iii) Although they are not required to do so, plumbers, auto mechanics, and other repair services give customers a 30-day warranty on the parts and labor.
The demand for money in an economy is high when the _____
Fill in the blank(s) with the appropriate word(s).
If you place a part of your summer earnings in a savings account, you are using money primarily as a:
A. medium of exchange. B. store of value. C. unit of account. D. standard of value.
Consider the following misperceptions model of the economy.AD: Y = 600 + 10(M/P)SRAS: Y = 
+ P - PeOkun's Law: (Y - 
)/ 
= -2(u - 
)Let 
= 750, = 0.05, M = 600, and Pe = 40.(a)What is the price level?(b)Suppose there is an unanticipated increase in the nominal money
supply to 800. What is the short-run equilibrium level of output, the unemployment rate, and the price level?(c)When price expectations adjust fully, what is the price level? What will be an ideal response?