The value (purchasing power) of each unit of money
a. is largely independent of the money supply.
b. tends to increase as the money supply expands.
c. increases as prices rise.
d. tends to decline as the money supply expands in relation to the availability of goods and services.
D
You might also like to view...
The firm in the above figure has excess capacity of ________ meals per day
A) 0 B) between 1 and 10 C) between 11 and 20 D) more than 21 and 30 E) more than 31
Ellis, a staunch environmentalist, is hired right of graduate school by the Environmental Protection Agency. He is ecstatic about having the opportunity to promote what he believes to be the public interest
Within a few years he gets promoted to manager of his bureau. Shortly after his promotion he successfully argues for a 30 percent increase in his department's budget. How might Ellis benefit personally from an increased budget? Now suppose that it was known to be true that the best thing for the environment was for a large portion of Ellis' budget to be shifted to another department. Why might Ellis fight this change? Why might he not?
Jake can complete an oil change in 45 minutes and he can write a poem in 90 minutes. Ming-la can complete an oil change in 30 minutes and she can write a poem in 90 minutes. Jake's opportunity cost of writing a poem is lower than Ming-la's opportunity cost of writing a poem
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. When the market is in equilibrium, consumer surplus is area:
A. F. B. A plus area F. C. F plus area E. D. A.