Which of the following would cause a decrease in the supply of peanut butter?
A) a decrease in the price of peanut butter
B) an increase in the technology used to produce peanut butter
C) a decrease in the price of jelly (assuming that peanut butter and jelly are complements)
D) an increase the price of peanuts
D
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If wages and prices adjust rapidly, we would expect expansionary monetary policy to be
A) more likely to affect the unemployment rate. B) more likely to reduce the natural rate of unemployment. C) less likely to affect the unemployment rate. D) less likely to result in a vertical short-run Phillips curve.
Which part of this definition for GDP is incorrect? GDP measures the
a. Market value of, b. All final and intermediate goods and services, c. Produced, d. By domestically owned or foreign-owned resources, e. Within nations' geographic borders.
Answer the following statement(s) true (T) or false (F)
1.If the Fed pursues a expansionary monetary policy on the open market, then U.S. exports will most likely decrease. 2.With the velocity of money, V represents the average number of times that each dollar is used in purchasing final goods or services in a one-year period. 3.According to the equation of exchange, the value of goods purchased is more than the value of goods sold. 4.The quantity theory of money and prices is the hypothesis that changes in the money supply lead to equal proportional changes in the price level. 5.The time lag is typically longer for adopting monetary policy changes than fiscal policy changes.
Which of the following statements would not be considered a positive? statement?
A. In 2013-2014, tuition at 4-year colleges grew at its slowest rate in 30 years. B. U.S. automobile sales increased by 13 percent in 2012, compared to 2011. C. The highest annual unemployment rate in the last 10 years was 9.6 percent. D. The vending machine outside the classroom needs a better selection of food.