The over-the-counter (OTC) market is an example of a(n)
A) dealer market.
B) brokered market.
C) auction market.
D) equilibrium market.
A
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If real GDP grew 5 percent last year and the population grew 2 percent, then real GDP per person grew by ________ percent
A) 2 B) 5 C) 3 D) 7 E) 10
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Figure 5-4
In Figure 5-4, the rightward shift in budget lines from the one containing point A to the one containing point B
A. resulted from equal price reductions in beer and wine. B. resulted from an increase in the consumer’s income. C. could have been caused by income or price changes. D. All of the responses are correct.
A $10 million open market sale will decrease the monetary base by
A) $10 million. B) $10 million times the money multiplier. C) $10 million divided by the money multiplier. D) an amount between $0 and $10 million, depending on the fraction of the purchase the public wishes to hold as currency.
The responsiveness of the quantity demanded of one good to a change in the price of a different good is measured by the:
A. price elasticity of demand. B. cross-price elasticity of demand. C. income elasticity of demand. D. price elasticity of supply.