In the long run, the effect of a reduction in the money supply is to
A) decrease both the price level and real Gross Domestic Product (GDP).
B) decrease real Gross Domestic Product (GDP) only.
C) decrease the price level and increase real Gross Domestic Product (GDP).
D) decrease the price level only.
D
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If the opportunity cost of working outside the home increases then it is likely that ________ assuming all else equal
A) there will be a rightward shift in the labor supply curve. B) there will be a downward movement along the labor supply curve. C) there will be a leftward shift in the labor supply curve. D) there will be an upward movement along the labor supply curve.
The Board of Governors has
A) seven members appointed to 14-year terms. B) 14 members appointed to 10-year terms. C) four members appointed to seven-year terms. D) 14 members appointed to four-year terms. E) seven members appointed for life.
When a customer deposits $100 into a checking account, the effect is to
a. increase the bank's liabilities. b. decrease the bank's liabilities. c. increase the bank's assets. d. decrease the bank's assets. e. increase both the bank's liabilities and its assets.
Which of the following does an efficiency wage primarily aim to combat?
a. consolidation of a minimum wage b. formation of unions c. dereliction of duties d. rising inflation