An increase in the price level or in the real GDP, with velocity stable, shifts the :
a. money demand curve leftward.
b. money supply curve leftward.
c. money demand curve rightward.
d. money supply curve rightward.
c
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Refer to Common Property II. If the common property is privately owned, the owner earns revenue equal to
a. Area C + D. b. Area F + G. c. Area C + D + F + G. d. zero.
A potential problem arises in principal-agent relationships
a. because the agents' actions are not always observed by the principals b. because the principals' actions are not always observed by the agents c. because the agent's and the principals' actions are always observed by each other d. the observability of actions is irrelevant
Which of the following will most likely occur under a system of clearly defined and enforced private property rights?
What will be an ideal response?
A typical Keynesian Phillips curve ________.
a. is vertical b. slopes downward c. slopes upward