Other things being equal, the quantity theory of money suggests that any increase in the money supply
A) results in a decrease in the aggregate price level.
B) causes the aggregate level of nominal Gross Domestic Product (GDP) to fall.
C) causes a reduction in the demand for money.
D) results in a proportionate increase in the price level.
D
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Which of the following would not be illegal according to the Robinson-Patman Act
a. "Party Packers" getting 10cents off every pack of ribbon they buy after 1000 units b. "Fred's Farms" offering 50 cents off a crate of strawberries to retailers to match other suppliers with similar rates c. "Sam's Sandwiches" receiving 5 cents off per pound of cheese d. All of the above
If a country gets grants that improve its port facilities allowed for greater exports, it will impact its economy by
A. decreasing aggregate supply. B. increasing aggregate supply. C. increasing aggregate demand. D. decreasing aggregate demand.
In most economies, resources are allocated by
A) a central planning board. B) a dictator. C) the combined and decentralized actions of millions of people. D) the majority's will.
Scarcity is caused by
A) unlimited wants running up against limited economic resources. B) lazy workers. C) an individual's budget that is insufficient to cover the expenses of certain goods or services. D) shortages.