In the money market, an increase in money supply will _____
Fill in the blank(s) with the appropriate word(s).
encourage people to exchange money for interest-bearing assets.
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The elasticity of a perfectly horizontal line is ______; the elasticity of a perfectly vertical line is _____.
Fill in the blank(s) with the appropriate word(s).
What is measured on the horizontal axis when we draw a graph of the long-run aggregate supply curve?
A) production of consumer goods B) real GDP C) production of capital goods D) the price level
An example of a market-facilitating legal practice is
(a) clearly established property rights. (b) corruption of government officials. (c) extensive licensing requirements for starting firms. (d) all of the above. (e) none of the above.
An economy's production function is Y = A , and the economy's total output in equilibrium is $90 billion. Total capital income in this economy is ________
A) $27 billion B) $30 billion C) $21 billion D) $70 billion E) none of the above