Suppose that Y = 4,000 and we are at a point on the money demand schedule where (M/P) = 600. Should Y fall to 3,900, the same quantity of real money balances
A) will not be demanded under any conditions.
B) will be demanded again provided the interest rate does not change.
C) will be demanded again provided the interest rate rises by a certain amount.
D) will be demanded again provided the interest rate falls by a certain amount.
D
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Which of the following is NOT a major argument for restricting international trade?
A) the national security argument B) the promotion of dumping in America C) the infant industry argument D) saves U.S. jobs argument E) the prevention of dumping argument
Suppose than an economy has output Y = A , that Y equals $19 trillion, capital K is $27 trillion, and labor L is 125 million workers. Given this information, what is the closest approximation of total factor productivity A?
A) less than 0.01 B) around 0.25 C) roughly 0.33 D) close to 0.4 E) exactly 144
In the short run, a perfectly competitive firm can make a profit, a loss, or shut down
a. True b. False Indicate whether the statement is true or false
Suppose that the long-run industry supply in the production of synthetic fabrics is perfectly elastic. Which of the following statements is then true?
a. The marginal cost curve of each synthetic-producing firm is horizontal. b. The existence of profit within the industry will not draw new firms into the market. c. The long-run industry supply for synthetics is horizontal. d. The long-run industry supply for synthetics is upward sloping.