A decline in the money supply shifts the LM curve to the left, causing the interest rate to ________ and output to ________, everything else held constant
A) rise; rise
B) rise; fall
C) fall; rise
D) fall; fall
B
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An ordinance making it illegal for people to park commercial vehicles on the street overnight in residential areas
A) protects property rights. B) takes away property rights. C) protects some property rights and takes away others. D) has nothing to do with property rights. E) reduces negative externalities for residents of affected areas.
In the coordination failure model, increasing returns to scale are best explained by strategic
A) mismanagement. B) complementarities. C) substitutabilities. D) collusion.
Suppose a monopolist sells 10,000 units of output at $22 per unit. The firm's total revenue is
A) $2,200. B) $22,000. C) $220,000. D) $2,200,000.
Which one of these economists studied the relationship between income and food consumption?
a. Schumpeter b. Friedman c. Jevons d. Malthus e. Engel