Monetarists argue that changes in the money supply
A. lead directly to recessions and expansions.
B. do not affect GDP.
C. lead to direct changes in spending.
D. work indirectly via increased investment.
Answer: C
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If consumers suddenly have a greater desire for energy drinks, the price of energy drinks will likely ________ and producers will ________ production
A) increase; decrease B) increase; increase C) decrease; decrease D) decrease; increase
It has been observed in country X that with an increase in college enrollment over a period of six years, the demand for televisions has also increased
Would it be right to conclude that the increase in college enrollment has caused the increase in demand for televisions? Why or why not?
The value of money varies inversely with the price level.
Answer the following statement true (T) or false (F)
The Industrial Revolution in England in large was the result of
A) growth in human capital. B) technological innovations encouraged by the patent system. C) population growth. D) technological innovations that were financed mainly by government spending.