Monetarists believe that
A) velocity changes in a predictable way.
B) aggregate supply depends on the money supply and velocity.
C) the SRAS curve is upward sloping.
D) a and c
E) a, b and c
D
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According to the "law of demand"
A) demand generates a supply sufficient to satisfy the demand. B) nothing will be produced unless there is a demand for it. C) people will purchase less of a good when its price rises. D) wants are indefinitely expansible and can never be fully satisfied. E) whatever people want will eventually be supplied.
The burden of a tax falls entirely on buyers if ________
A) the price elasticity of demand is zero (perfectly inelastic) B) the price elasticity of demand is greater than 1 C) the income elasticity of demand is high D) the price elasticity of supply is unitary elastic
Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $21,500, what is the marginal propensity to consume?
C = 1,500 + (MPC)Y I = 1,000 G = 2,000 NX = -200 A) 0.67 B) 0.75 C) 0.8 D) 0.9
The difference between a Euroloan interest rate and Eurodeposit interest rate is called
A) net interest rate. B) the forward premium. C) net profit rate. D) the spread.