When the U.S. banking system collapsed during 1929-1933, the money supply declined dramatically
a. True
b. False
Indicate whether the statement is true or false
True
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Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Nominal GDP for 2009 equals ________.
A. $2,300 B. $5,000 C. $2,700 D. $3,600
The figure above shows the production possibilities frontier for a country. In order for it to move from producing at point A to producing at point B, the country would need to incur an opportunity cost of
A) 4 million SUVs. B) 3 million SUVs. C) 1 million SUVs. D) 3 million compact cars. E) 0 because the gain in compact cars exceeds the loss in SUVs.
Other things remaining unchanged, the longer the time period under consideration, the greater will be the price elasticity of demand
a. True b. False Indicate whether the statement is true or false
An open market ________ by the Fed increases interest rates and ________ output.
A. sale; increases B. sale; decreases C. purchase; increases D. purchase; decreases