Monetarists believe that an increase in the money supply shifts the aggregate
A. Supply curve to the right.
B. Supply curve to the left.
C. Demand curve to the right.
D. Demand curve to the left.
Answer: C
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A firm uses an efficiency wage scheme to deter workers from shirking. A risk-neutral worker will not shirk if
A) the expected loss from being fired is larger than or equal to the gain from shirking. B) the expected loss from being fired is smaller than the gain from shirking. C) the gain from shirking is positive. D) the expected loss from being fired is zero.
These are the cost and revenue curves associated with a firm.
If the firm in the given graph were to produce Q1 and charge P3, the area A would represent:
A. producer surplus. B. deadweight loss. C. consumer surplus. D. profits.
Money is a ________ and a transaction is a ________.
A) stock; stock
B) flow; flow
C) flow; stock
D) stock; flow
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. Assume the market is initially at Point B and that pizza is a normal good. A decrease in income would cause the market to move from Point B on demand curve D2 to
A. demand curve D1. B. demand curve D3. C. Point A on demand curve D2. D. Point C on demand curve D2.