In the figure below, label the axes and then draw a demand for money curve. Illustrate an increase in the demand for money
What will be an ideal response?
A completed figure is above. An increase in the demand for money is reflected in a rightward shift of the demand for money curve, as in the figure with the shift from MD1 to MD2.
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Suppose that a new study is released stating that consumption of orange juice (a substitute for apple juice) reduces the risk of cancer, and a major freeze destroys half of the country's apple cro
A) The price of apple juice might rise or fall and the quantity of apple juice falls. B) The quantity of apple juice might rise or fall, and the price of apple juice rises. C) The price of apple juice falls and the quantity of apple juice falls. D) The price of apple juice might rise or fall and the quantity of apple juice rises.
Joe has been unable to find a job because he lacks the necessary computer skills. Joe is
A) cyclically unemployed. B) skill-set unemployed. C) frictionally unemployed. D) structurally unemployed. E) educationally unemployed.
By committing to reduce one's options during a sequential game, a player can force a change in his opponents' strategy, and that commitment strategy results in a:
A. payoff that he likely would have gotten anyway. B. cooperative equilibrium. C. payoff that would otherwise be out of reach. D. negative-negative outcome.
The underground economy
A. consists mainly of such involuntary transfer payments as savings and loan fraud and bank robberies. B. consists only of illegal activities such as prostitution, loan-sharking, and narcotics. C. is a very stable percentage of GDP. D. causes GDP to be underestimated by 10 to 15 percent.