Most of the increase in total money supply between 1860 and 1920 was due to:
a. sustained economic growth.
b. the growth of bank deposits.
c. an increase in greenbacks.
d. new discoveries of gold and silver.
b. the growth of bank deposits.
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The following table shows the different quantities sold by a monopolist at different prices
Quantity (units) Price ($) 1,000 14 1,350 12 1,700 10 2,100 8 2,650 6 3,000 4 3,300 2 a) Estimate the total revenue and marginal revenue of the monopolist at the different quantities. b) If the monopolist faces a constant marginal cost of $2.29, what is the optimal output it should produce?
The relationship between GDP and the money supply has gotten stronger since the 1980s
Indicate whether the statement is true or false
Negative supply shocks confront the Fed with a dilemma because
a. full employment is no longer possible b. the costs of fulfilling one objective are paid in terms of failure to meet the other c. inflation cannot be prevented considering the reduced supply d. all policy choices are equally undesirable e. such shocks are entirely unpredictable
A correct formula (dropping all minus signs) for the calculation of the elasticity of demand between point Q1, P1 and point Q2, P2 is
a. [(P2 ? P1)/(P2 + P1)]/[(Q2 ? Q1)/(Q2 + Q1)]. b. [(P2 ? P1)/P1]/[(Q2 ? Q1)/Q1]. c. [(Q2 ? Q1)/(Q2 + Q1)]/[(P2 ? P1)/(P2 + P1)]. d. [(Q2 ? Q1)/Q2)]/[(P2 ? P1)/P2].