The purchase of VCU2 by Tomas Tiergarten, a private resident,causes the nation's:
a. Monetary base to rise.
b. M2 money supply to fall.
c. M2 money multiplier to fall.
d. Monetary base to remain the same.
.D
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An increase in the demand for green tea raises the price of green tea from $16 a pound to $20 a pound. As a result, quantity supplied increases by 30 percent. Using the midpoint formula, what is the value of the price elasticity of supply?
A) 1.35 B) 1.875 C) 2.22 D) 7.5
If buyers of a monopolistically competitive product feel the products of different sellers are strongly differentiated, then the demand for each seller's product is
A) relatively elastic. B) relatively inelastic. C) perfectly inelastic. D) perfectly elastic.
Automatic stabilizers drive changes in
a. the total deficit. b. the cyclical deficit. c. the structural deficit. d. monetary policy. e. both b and c.
Which of the following would NOT shift the consumption function?
What will be an ideal response?