If the Federal Reserve conducts an open-market purchase, then the SML will:

A. Shift up

B. Shift down

C. Rotate and become steeper

D. Rotate and become flatter


B. Shift down

Economics

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A dominant strategy exists for at least one player in every game

a. True b. False Indicate whether the statement is true or false

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Demand for a good which comprises a relatively small share of the consumer's budget tends to be

A. perfectly inelastic. B. perfectly elastic. C. elastic. D. inelastic.

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Our current account balance in 2009 was a

A. surplus of about $220 billion. B. surplus of about $420 billion. C. deficit of about $220 billion. D. deficit of about $420 billion.

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