Which of the following is likely protected by copyright?
A) Your recipe for chocolate cake
B) Your autobiography
C) The color scheme for your house
D) The names of your children
B
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If initially the money supply is $1 trillion, velocity is 5, the price level is 1, and real GDP is $5 trillion, an increase in the money supply to $2 trillion
A) increases real GDP to $10 trillion. B) causes velocity to fall to 2.5. C) increases the price level to 2. D) increases the price level to 2 and velocity to 10.
In general, the more elastic a demand curve is the:
A. flatter it will be. B. steeper it will be. C. more bowed-in it will be. D. faster it will shift when price changes.
The firm's expansion path records
a. profit-maximizing output choices for every possible price. b. cost-minimizing input choices for all possible output levels for when input prices expand along with production. c. cost-minimizing input choices for all possible output levels for a fixed set of input prices. d. cost-minimizing input choices for profit-maximizing output levels.
The most effective and frequently used tool the Fed has to increase or decrease the economy's money supply is
a. open market operations b. changes in the legal reserve requirement c. changes in the discount rate d. changes in the federal funds rate e. moral suasion