A change in the public's desire to hold money will
A) shift the IS curve.
B) change the slope of the IS curve.
C) shift the LM curve.
D) change the slope and position of the LM curve.
D
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The elasticity of supply for paintings by Monet is
A) perfectly elastic. B) perfectly inelastic. C) unit elastic. D) inelastic.
According to the theory of purchasing power parity, whenever a country's price level is expected to fall relative to another country's price level,
A) its currency's real exchange rate relative to the other country's currency should rise. B) its currency should depreciate relative to the other country's currency. C) its currency should appreciate relative to the other country's currency. D) its nominal interest rate should rise relative to the other country's nominal interest rate.
Drug companies tend to attribute higher drug prices on
A. the low percentage of attempts that actually result in revenue producing drugs. B. long testing processes. C. the low percentage of attempts that actually result in revenue producing drugs and long testing processes. D. doctors distributing too many free samples.
At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the:
A. corporate income tax. B. personal income tax. C. sales tax. D. property tax.