When the money market is drawn with the value of money on the vertical axis, an increase in the money supply shifts the money supply curve to the
a. right, lowering the price level.
b. right, raising the price level.
c. left, raising the price level.
d. left, lowering the price level.
b
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Marginal utility theory predicts that an increase in income means that the consumption of
A) all goods will increase. B) normal goods will increase and consumption of inferior goods will decrease. C) inferior goods will increase and consumption of normal goods will decrease. D) None of the above answers is correct.
Refer to the Article Summary. The article addresses proposed British education reform by way of a completely revised public school system to improve the talent and experience of students
If these reforms lead to a more skilled and better trained public, the British economy would experience A) an increase in human capital. B) an increase in comparable worth. C) a decrease in compensating differentials. D) an increase in the supply of labor.
According to the ________ theory of regulation, regulators must take into account the preferences of legislators, consumers, and producers
A) capture B) general interest C) public interest D) share-the-gains, share-the-pains
Use the following diagram to answer the next question.
We observe that the economy has moved from NX1 to NX2. This could have happened because ________.
A. exports increased by more than imports B. exports decreased C. exports increased by less than imports D. imports increased