If the quantity of money supplied ________ the quantity demanded, in the long run the value of money ________
A) is less than; does not change unless the Fed increases the money supply
B) exceeds; falls as people spend their surplus money
C) is less than; falls as people spend their surplus money
D) exceeds; rises as people buy bonds
E) equals; equals zero
B
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What is meant by the geography hypothesis? How does it differ from the culture hypothesis?
What will be an ideal response?
Refer to Table 5.1. Hector has a comparative advantage in the production of
A) bracelets. B) tiaras. C) both products. D) neither product.
At the end of the populist cycle, workers are better off than they were before the populist cycle began in terms of real wages and job creation
Indicate whether the statement is true or false
Early industrialization was characterized by labor-saving technology, and this caused U.S. wages to be lower in the manufacturing industry than would otherwise have been the case
Indicate whether the statement is true or false