An increase in the nonborrowed monetary base, everything else held constant, will cause
A) the money supply to fall.
B) the money supply to rise.
C) no change in the money supply.
D) demand deposits to fall.
B
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In the long run, a monopolistically competitive firm's price equals
A) its average total cost and its marginal cost. B) its average total cost but not its marginal cost. C) its marginal cost but not its average total cost. D) neither marginal cost nor its average total cost.
Higher tariffs and quotas cause a country's currency to ________ in the ________ run, everything else held constant
A) depreciate; short B) appreciate; short C) depreciate; long D) appreciate; long
In the United States, the dollar was commodity backed by:
A. gold. B. silver. C. oil. D. diamonds.
According to the classical dichotomy, when the money supply doubles, which of the following also doubles?
a. the price level and nominal wages b. the price level, but not the nominal wage c. the nominal wage, but not the price level d. neither the nominal wage nor the price level