Imagine you own a machine that produces perfectly authentic and legal $100 bills. You would use this machine until
a. the bills became worthless
b. the total cost began to fall
c. the marginal cost was $100
d. the variable cost began to rise
e. the marginal revenue began to fall
C
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What are the implications of the quantity theory of money for monetary policy and price stability?
What will be an ideal response?
Everything else held constant, in the market for reserves, when the federal funds rate is 3%, lowering the discount rate from 5% to 4%
A) lowers the federal funds rate. B) raises the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.
"Monetary instability has been the major cause of economic instability in this country. Expansion in the money supply has been the source of every major inflation. Every major recession has been either caused or perpetuated by monetary contraction." Who among the following would most likely adhere to this view?
a. Monetarists. b. Keynesians. c. Demand-side economists. d. Quantity theorists.
Which of the four categories of resources used in production would include farmable acreage, timber, and natural gas?
a. labor b. land c. capital d. costs