In a full-employment economy, a rise in M will cause inflation unless:
A. V rises in proportion to the increase in M.
B. the quantity of goods produced declines proportionately.
C. tax reductions accompany the increase in the money supply.
D. the velocity of money diminishes.
D. the velocity of money diminishes.
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Some illegal immigrants move back and forth across the U.S.-Mexican border. But in 2012, as many as _____ million immigrants were residing continuously in the U.S.
A. 4 B. 11 C. 20 D. 29
Purchasing additional equipment for more people to use or share in a production environment usually results in a
A) higher level of output. B) more expensive level of output. C) backlog of production. D) worker sharing his or her load.
Suppose a tax equal to the value of the marginal external cost at the optimal output is imposed on a pollution generating good. All of the following will result from the tax except
A) an increase in demand for the good. B) a decrease in the equilibrium quantity produced and consumed. C) an increase in the equilibrium market price. D) a decrease in market supply of the good.
When an economy is producing efficiently, it is
A. Producing a combination of goods and services beyond the production possibilities curve. B. Experiencing decreasing opportunity costs. C. Getting the maximum goods and services possible from the available resources. D. Producing equal amounts of all goods.