When the money market is drawn with the value of money on the vertical axis, if the Federal Reserve buys bonds, then the money supply curve
a. shifts rightward, causing the value of money measured in terms of goods and services to rise.
b. shifts rightward, causing the value of money measured in terms of goods and services to fall.
c. shifts leftward, causing the value of money measured in terms of goods and services to rise.
d. shifts leftward, causing the value of money measured in terms of goods and services to fall.
b
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Central banks:
A. exist in almost every major nation. B. are common only to industrialized nations. C. in the United States oversee the U.S. economy, as well as some developing nations who do not have a central bank. D. stopped being used after events like the Great Depression proved them useless.
The aggregate supply curve is likely to be relatively flat in the short run
A. but relatively steep in the long run. B. and relatively flat in the long run. C. but vertical in the long run. D. None of the above is correct.
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. Russia has a comparative advantage in:
A. hats. B. gloves. C. both hats and gloves. D. neither hats nor gloves.
Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
?Figure 5.2Refer to Figure 5.2. If the price of a hamburger increases from $2 to $4, the price elasticity of demand equals ________. Use the midpoint formula.
A. -0.33 B. -2.0 C. -3.0 D. -5.0