What is the effect on the rate of inflation of the Federal Reserve printing large quantities of currency?
A. increases the rate.
B. has no effect on rate.
C. decreases the rate.
B. has no effect on rate.
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Total revenue for a firm equals cost times quantity sold by the firm
a. True b. False Indicate whether the statement is true or false
Suppose a tax of $10 per unit is imposed on this market. What will be the new equilibrium quantity in this market?
A. less than 70 units B. greater than 100 units C. 70 units D. between 70 units and 100 units
How does aggregate demand (AD) curve differ from an individual demand curve (D)?
A. D represents the price-quantity relationship for a single good or service while AD looks at the entire economic system. B. AD is generally vertical while D is usually downward sloping. C. AD is generally a downward sloping curve while D usually slopes upward. D. Look for D in macroeconomic analyses and for AD in microeconomics.
In order to derive the market supply curve from individual supply curves, we add up the
A. various quantities that individual sellers are willing and able to supply at different prices. B. total number of sellers in the market at a given time. C. costs that all individual sellers incur in producing the product. D. various prices that individual sellers are charging for the quantities of the product available.