Since the 1970s, the velocity of money has
a. behaved in a predictable fashion.
b. behaved in an erratic fashion.
c. decreased in value.
d. increased in a stable and predictable fashion.
b
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When the government decides to increase income taxes, this is an example of contractionary fiscal policy
Indicate whether the statement is true or false
Starting from short-run equilibrium, the following occurs: individuals expect higher (future) incomes and wage rates rise. What is the effect on the price level and Real GDP in the short run?
A) The price level rises and Real GDP rises. B) The price level falls and Real GDP falls. C) The price level rises, but the effect on Real GDP cannot be determined. D) Real GDP rises, but the effect on the price level cannot be determined. E) Real GDP falls, but the effect on the price level cannot be determined.
Refer to the information provided in Figure 15.2 below to answer the question(s) that follow. 
Figure 15.2 Refer to Figure 15.2. At We Do Hair, a monopolistically competitive firm, the ________ perm is $32.
A. profit-maximizing price for a B. marginal cost of a C. average total cost of a D. profit on each
Financial institutions, acting as financial intermediaries, perform all of the following, except:
A. increase transactions costs. B. pooling resources of small savers. C. provide ways to diversify risk. D. provide safekeeping and accounting services.