When the supply of money is vertical, changes in money demand will not change the equilibrium quantity of money in existence
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in labor hours will lead to
A) a shift of the aggregate production function but no movement along it. B) a movement along the aggregate production function but no shift in it. C) both a movement along and a shift in the aggregate production function. D) neither a movement along nor a shift in the aggregate production function.
Tastes for products such as beer differ. As a result
A) consumers of beer have difficulty deciding what type of imported beer to buy. B) the quality of imported beer is less than it could be. C) we see countries specializing completely in the production of beer. D) different countries may each have a comparative advantage in producing different types of beer.
Dynamic tax analysis is based on the recognition that as tax rates are increased
A) tax revenue collections will eventually decline. B) tax revenue collections will continually increase. C) tax revenue collections will change at the same rate as the tax rates. D) tax revenue collections will increase at a faster rate than the tax rate change.
The compound growth rate formula is used to estimate how long it will take for a number to double for a given growth rate
a. True b. False Indicate whether the statement is true or false