An increase in the supply of money will lead to ____ in equilibrium real GDP and ____ in equilibrium price level
a. an increase; an increase
b. an increase; a decrease
c. a decreases; an increase
d. a decrease; a decrease
a
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If real GDP is $11,750 billion and aggregate hours are 175 billion, labor productivity equals
A) $23.50 per hour. B) $52 per hour. C) $67 per hour. D) $235 per hour.
During Thanksgiving you participated in a pumpkin-pie eating contest. You really enjoyed the first two pies, the third one was okay, but as soon as you ate the fourth one you became ill and lost the contest. Your total utility ________ with the first three pies you ate.
A. first increased than decreased B. decreased C. stayed the same D. increased
If after a change in an allocation it can be demonstrated that the value of the gains exceeds the value of the losses, then the change is said to be potentially efficient.
Answer the following statement true (T) or false (F)
Monetary policy has the following advantage(s) over fiscal policy:
A. it can usually be fine-tuned. B. it is less influenced by politics. C. it can be implemented faster. D. all of the answers given are correct.