If the price of a Canadian dollar went from 0.95 US dollars to 0.98 US dollars, we would say that the US dollar has
a. Appreciated
b. Depreciated
c. Not changed in value
d. None of the above
b
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Suppose Congress raises taxes and the monetary authorities slow the annual money supply growth from 10 percent to 5 percent. If decision makers accurately anticipate the impact of these policy changes on prices,
a. unemployment will rise. b. unemployment will fall. c. there will be no effect on unemployment. d. unemployment will fall if the change in monetary policy dominates, but unemployment will rise if the change in fiscal policy dominates.
Market failure occurs when resources are misallocated.
Answer the following statement true (T) or false (F)
Paul goes to Dick's Sporting Goods to buy a new tennis racquet. He is willing to pay $200 for a new racquet, but buys one on sale for $125. Paul's consumer surplus from the purchase is
A) $325. B) $200. C) $125. D) $75.
Ruby transfers $700 from her saving account to her checking account. This transaction will
A. not change M1 and decrease M2. B. increase both M1 and M2. C. decrease both M1 and M2. D. increase M1 and not change M2.