As of 2009, M2 had a value of more than ______ dollars
a. $8 trillion.
b. $1 trillion.
c. $5 trillion.
d. $3 trillion.
e. $14 trillion.
A
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Suppose the market clearing rate for apartments in Yazoo City, Mississippi is $400 per month, but a rent control is set at $600 per month. Which of the following would tend to occur in the community?
A) A shortage of apartments B) An increase in the quantity demanded for apartments C) Both of the above. D) Neither of the above.
Refer to Table 14-2. For each firm, is there a better outcome than the current situation in which each firm charges the low price and earns a profit of $7,000?
A) Yes, the firms can implicitly collude and agree to charge a higher price. B) Yes, each firm can implicitly agree to increase output and not to deviate from a low price. C) No, there is no incentive for each firm to consider any other strategy. D) No, any other strategy hurts consumers.
Refer to Figure 28-4. Consider the shift in the short-run Phillips curves shown in the above graph. This shift may be explained by
A) either an increase in the natural rate of unemployment from 5.0 to 6.2 percent or an increase in the expected rate of inflation from 4.0 to 5.5 percent. B) an increase in the expected rate of inflation from 4.0 to 5.5 percent. C) an increase in the natural rate of unemployment from 5.0 to 6.2 percent. D) None of the above is correct.
When the ________ interest rate is low, there are greater incentives to ________ and fewer incentives to ________
A) nominal; lend; borrow B) real; lend; borrow C) real; borrow; lend D) market; lend; borrow