The tool most frequently used by the Fed to change the money supply is changing the required reserve ratio.
Answer the following statement true (T) or false (F)
False
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Dent 'n' Scratch Used Cars and Trucks employs 3 salesmen. Data for their sales last month are shown in this table: Cars Sold Trucks SoldLarry105Joe99Ralph312Based on last month's data, Joe's opportunity cost of selling a truck is selling:
A. 4 cars. B. 1 car. C. 9 cars. D. 1/3 of a car.
Rent control makes apartments:
A. be in excess demand. B. easy to find. C. hard to find. D. less desirable.
As price rises, quantity demanded gets _______ and quantity supplied gets ________.
A. larger; larger B. smaller; smaller C. larger; smaller D. smaller; larger
Use the following graph to answer the next question.
Suppose an economy's full employment output is at the level Qf shown on the graph. Further, suppose the economy's current aggregate demand is represented by AD1. If the government swiftly implements a stimulus program that immediately shifts the economy's aggregate demand to AD2, the aggregate demand in the short-to-medium term would be most closely represented by
A. AD0. B. AD1. C. AD2. D. AD3.