Which of the following shows the accurate sequence for establishing a new equilibrium in this graph?
a. E1 moves to E2; P1 moves to P2; Q1 moves to Q2; D1 moves to D2
b. D2 moves to D1; Q1 moves to Q2; P1 moves to P2; E1 moves to E2
c. P1 moves to P2; D1 moves to D2; E1 moves to E2; Q1 moves to Q2
d. D1 moves to D2; P1 moves to P2; Q1 moves to Q2; E1 moves to E2
d. D1 moves to D2; P1 moves to P2; Q1 moves to Q2; E1 moves to E2
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If the Fed followed through on plans to be more open to and more quickly provide the public with information about monetary policy, then we would expect to see
a. the impact of the money supply on output would get stronger. b. the Fed would not have any power over output in the future. c. the impact of the money supply on output would get weaker. d. information does not affect output.
In long-run competitive equilibrium, a firm that owns factors of production will have an
A) economic profit = $0 and accounting profit > $0. B) economic profit > $0 and accounting profit = $0. C) economic and accounting profit = $0. D) economic and accounting profit > $0. E) economic and accounting profit can take any value.
Suppose that private saving is $1590 billion, investment is $1945 billion, and the current account balance is -$489 billion. From the uses-of-saving identity, how much is government saving?
A. -$134 billion B. $134 billion C. -$844 billion D. $844 billion
In an election in which there is no policy which can defeat all other policies, the sequence of the votes determine?s the outcome, even under majority rule.
Answer the following statement true (T) or false (F)