Refer to the information provided in Figure 3.18 below to answer the question(s) that follow.
Figure 3.18Refer to Figure 3.18 The market is initially in equilibrium at Point A. If demand shifts from D1 to D2, the new equilibrium price will be ________ and the new equilibrium quantity will be ________.
A. $4.00; 150
B. $3.00; 250
C. $6.00; 250
D. $4.00; 350
Answer: D
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The money supply consists of:
A) currency plus reserves. B) currency plus required reserves. C) currency plus excess reserves. D) currency plus demand deposits.
Everything else held constant, if aggregate output is to the ________ of the LM curve, then there is an excess demand of money which will cause the interest rate to ________
A) right; fall B) right; rise C) left; fall D) left; rise
A resource that can substitute for something but at a higher price is called
a. A virgin resource b. A marginal resource c. A reserve resource d. An index resource e. A backstop resource
The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time.
A. decreased; increased B. increased; decreased C. decreased; decreased D. increased; increased