In a model with money neutrality, how much should the money supply be increased to obtain a 1% increase in real output?
A) -1%
B) between 0 and 1%
C) 1%
D) It cannot be done.
D
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Without drawing a graph explain what probably happened to the production possibility frontier during the Black Plague
What will be an ideal response?
The total value of production from Ford's manufacturing plant in Cologne, Germany would be included in Germany's gross national product
Indicate whether the statement is true or false
Which of the following is most likely correct about economists?
a. Economists do not determine the answer to the problem first and then draw the graph to illustrate. b. Economists do not use the graph of the theory to determine the answer. c. Economists determine the answer to the problem first and then draw the graph to illustrate. d. Economists identify multiple potential answers and then graph each one to determine the correct answer.
Which of the following demonstrates why international trade is helpful to businesses?
a. Hakan went car shopping and test drove models from several international automakers. b. The app that Martin designed could be modified and sold in any market around the world. c. Deb’s Designs had to compete in the clothing market against less-expensive import brands. d. At the local big box store, Lin found deep discount prices on many essential household items.