When the money market is drawn with the value of money on the vertical axis, if the value of money is above the equilibrium level,
a. the price level will rise.
b. the value of money will rise.
c. money demand will shift leftward.
d. money demand will shift rightward.
a
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Explain how the government gains revenue during inflation
What will be an ideal response?
A retired athlete built a gym near his house that could be used for free by all the residents in the neighborhood. However, the overuse of the facilities soon led to irreparable damages. This is an example of the ________
A) tragedy of the commons B) pecuniary externality C) paradox of thrift D) prisoners' dilemma
Whether or not a production process shows economies of scale depends on
A. the number of inputs used. B. technology. C. technology and input prices. D. technology and output prices.
What is the economic way of thinking, and why is it important?
What will be an ideal response?