A decrease in the money supply might indicate that the Fed had
a. purchased bonds to increase banks reserves.
b. purchased bonds to decrease banks reserves.
c. sold bonds to increase banks reserves.
d. sold bonds to decrease banks reserves.
d
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In Figure 15-2 above, the difference between consumption levels at point A and point B is equal to
A) the long run MPC times the change in disposable income. B) the short run MPC times the change in disposable income. C) (Y0 - Y2 ) times the short run change in income. D) the long run change in income times (Y0 - YP).
Because of the greater flexibility that firms have in the long run, all short-run cost curves lie on or above the long-run curve
a. True b. False Indicate whether the statement is true or false
If crop dusting on your farm causes your neighbors to have sore throats, then crop dusting is creating
A. external costs. B. only explicit costs. C. internal costs. D. opportunity costs.
The demand for a monopoly's output is p = 200 - Q. The monopoly's production function is Q = 2L, and the market wage is $4. How many units of labor will the monopolist employ at its profit maximization level of output?
A) L = 49.5 B) L = 4623 C) L = 198 D) L = 10