If the Fed pursues expansionary monetary policy,
A) aggregate demand will fall, and the price level will fall.
B) aggregate demand will fall, and the price level will rise.
C) aggregate demand will rise, and the price level will fall.
D) aggregate demand will rise, and the price level will rise.
D
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Powers of many regulatory agencies are designed to protect public health and safety
a. True b. False Indicate whether the statement is true or false
For any country that allows free trade,
a. domestic quantity demanded is equal to domestic quantity supplied at the world price. b. domestic quantity demanded is greater than domestic quantity supplied at the world price. c. both producers and consumers in that country gain when domestic products are exported, but both groups lose when foreign products are imported. d. the domestic price is equal to the world price.
Assume the market for orange juice is perfectly competitive. Orange juice producers currently earn a zero economic profit. Orange juice producers will likely begin to earn economic profits in the short run, and some producers will enter the industry until all firms in the industry earn a zero economic profit, if consumers
A. do not change their demand for orange juice. B. switch from orange juice to grape juice. C. switch from grape juice to orange juice. D. All of the above are correct.
Why do people specialize and trade?
What will be an ideal response?