When the money market is drawn with the value of money on the vertical axis, the value of money decreases if
a. either money demand or money supply shifts right.
b. either money demand or money supply shifts left.
c. money demand shifts right or money supply shifts left.
d. money demand shifts left or money supply shifts right.
d
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In the above table, the efficient level of output can be achieved through a per unit
A) subsidy of $20. B) tax of $20. C) subsidy of $60. D) tax of $60.
During a period of disinflation the purchasing power of the dollar _____.
Fill in the blank(s) with the appropriate word(s).
The fact that indifference curves are downward sloping
A) is not true. B) follows from the fact that more is preferred to less. C) follows from the property that the consumer likes diversity in his or her consumption bundle. D) follows from the property that consumption and leisure are normal goods.
Instrumental Variables regression uses instruments to
A) establish the Mozart Effect. B) increase the regression R2. C) eliminate serial correlation. D) isolate movements in X that are uncorrelated with u.