The purchase of a virtual item from an online company with a virtual currency causes the nation's:
a. Monetary base to remain the same.
b. M2 money supply to fall.
c. M2 money multiplier to fall.
d. Monetary base to rise.
.A
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Refer to Cournot Problem. In the Nash Equilibrium, each firm will receive producer surplus of
a. $300 b. $450 c. $600 d. $900
When the Keynesian-cross model is in equilibrium, income equals output and aggregate expenditure equals output
a. True b. False Indicate whether the statement is true or false
Which one of the following was a secondary effect of the stock market crash of 1929?
a. an increase in the money supply in the early 1930s b. a decline in consumption expenditures because of the reduction in the wealth of stockholders c. an increase in the supply of loanable funds as people transferred funds from the stock market into savings accounts d. an increase in tax revenues as the sellers of stocks paid the capital gains tax on stocks that had appreciated during the 1920s
A competitive, profit-maximizing firm hires workers up to the point where the
a. marginal product equals zero. b. marginal revenue product equals zero. c. marginal product equals the wage. d. value of the marginal product equals the wage.