The price level rises if either
a. money demand shifts rightward or money supply shifts leftward; this rise in the price level is associated with a rise in the value of money.
b. money demand shifts rightward or money supply shifts leftward; this rise in the price level is associated with a fall in the value of money.
c. money demand shifts leftward or money supply shifts rightward; this rise in the price level is associated with a rise in the value of money.
d. money demand shifts leftward or money supply shifts rightward; this rise in the price level is associated with a fall in the value of money.
d
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The MPC on ________ income is less than the MPC on ________ income according to ________ theory
A) transitory; permanent; Friedman's B) transitory; permanent; Modigliani's C) permanent; transitory; Modigliani's D) permanent; transitory; Friedman's
The difference between the value you place on a product and its market price is called
a. Consumer surplus b. Quantity demanded c. Demand d. None of the above
Market equilibrium is the intersection of the demand curve and the social cost curve
a. True b. False Indicate whether the statement is true or false
When foreigners come to the United States as tourists, they are generating a
A. Supply of U.S. dollars and a supply of a foreign currency. B. Supply of U.S. dollars and a demand for a foreign currency. C. Demand for U.S. dollars and a demand for a foreign currency. D. Demand for U.S. dollars and a supply of a foreign currency.