If beginning stocks for 2014/2015 are adjusted upward in the May (2014) WASDE report, then the estimate of the supply of corn for 2014/15:
a. Is decreased
b. Is increased
c. Is not affected by the adjustment
b. Is increased
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All of the points on a budget line result in combination of goods that expend all of her income.
Answer the following statement true (T) or false (F)
Banks can make loans as long as they have
A) deposits. B) reserves. C) required reserves. D) excess reserves. E) excess government securities.
Fisheria is a country in which the quantity theory of money operates. The country has a constant population, capital stock, and technology
In 2010, real GDP was $300 million, the quantity of money was $60, and the velocity of circulation of money was 10. In 2015, the price level rose by 20 percent. a) What was the price level in 2014? (The price level is measured by the GDP deflator, which is 100 in the base year. So the price level from the equation of exchange needs to be multiplied by 100 to convert it to the GDP deflator.) b) What was real GDP in 2015? c) What was the velocity of circulation in 2015? d) What was the quantity of money in 2015?
The fair value of a good is not a subjective measure
Indicate whether the statement is true or false