In 2001, the first year of the Bush administration, Americans learned that recessions were a thing of the past
a. True
b. False
Indicate whether the statement is true or false
False
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According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then
a. both the price level and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. the price level would be unchanged and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.
Which of the following would increase the demand for union labor?
A) increasing worker productivity B) increasing the demand for union made goods C) decreasing the demand for non-union-manufactured goods D) all of the above
Figure 6-1
In Figure 6-1,
A. D1 is more elastic than D2 below P2 and less elastic above P2. B. D1 is less elastic than D2 at all prices. C. D2 is less elastic than D1 at all prices. D. D2 is more elastic than D2 above P2 but less elastic below P2.
Which of the following are bank assets?
A) the building owned by the bank B) a discount loan C) a negotiable CD D) a customer's checking account