Looking at the macroeconomic statistics for Friedmanland, you discover that at the beginning of the year, the national money supply was equal to $400 million and by the end of the year it was equal to $420 million
You also found out that the inflation rate in Friedmanland was 7%. In this case, you would expect the LM curve to A) shift up and to the left as the real money supply falls.
B) shift up and to the left as the real money supply rises.
C) shift down and to the right as the real money supply falls.
D) shift down and to the right as the real money supply rises.
A
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The Fed has the least degree of discretion and the least to do under a policy rule setting
A) the growth rate of money. B) the growth rate of high-powered money. C) the Federal funds rate. D) nominal GDP.
The International Space Station is a joint project of the United States, Russia, Japan, Canada and the European Union. This suggests that _____
a. if the space station is a public good then the optimal size of the sharing group is larger than one country b. each country would have been unable to raise the money to pay for the space station on their own c. there are significant negative externalities involved that should be spread over more individuals d. Australians do not value space exploration
In an economy consisting of two people producing two goods, it is possible for one person to have the absolute advantage and the comparative advantage in both goods
a. True b. False Indicate whether the statement is true or false
Curly just graduated from State U and has three job offers: teaching at a prestigious private high school nine months a year with summers off, working forty hours a week at a bank in a small city, and working more than sixty hours a week for a high-powered investment firm in New York. The annual salary for each of these offers is probably:
A. lowest at the high school, in the middle at the investment firm, and highest at the bank. B. lowest at the bank, in the middle at the investment firm, and highest at the high school. C. lowest at the investment firm, in the middle at the bank, and highest at the high school. D. lowest at the high school, in the middle at the bank, and highest at the investment firm.