If real money demand increases 5% and real money supply increases 10%, by about how much does the price level change?
A) Falls by 5%
B) Unchanged
C) Rises by 2%
D) Rises by 5%
D
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If the cross elasticity of demand between goods A and B is negative
A) the demands for A and B are both price elastic. B) the demands for A and B are both price inelastic. C) A and B are complements. D) A and B are substitutes.
Since 1970, U.S. union membership has
a. increased as a percentage of the labor force. b. declined as a percentage of the labor force. c. remained stable as a percentage of the labor force. d. become more restrictive.
As the price level decreases, the value of money
a. increases, so people must hold less money to purchase goods and services. b. increases, so people must hold more money to purchase goods and services. c. decreases, so people must hold more money to purchase goods and services. d. decreases, so people must hold less money to purchase goods and services.
Refer to the normal-form game of price competition shown below.Firm AFirm B??CD?A0,75,2?B5,10,8Which of the following represents firm B's full strategy space?
A. {A, B} B. {A, C} C. {(A, C), (A, D), (B, C), (B, D)} D. {C, D}