If the Bank of Canada conducts open-market sales, how do the money supply and the aggregate demand change?
a. The money supply increases, and aggregate demand shifts right.
b. The money supply increases, and aggregate demand shifts left.
c. The money supply decreases, and aggregate demand shifts right.
d. The money supply decreases, and aggregate demand shifts left.
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The dominant strategy allows a firm to
A) obtain the highest benefit, regardless of its rivals' actions. B) transform a negative-sum game into a positive-sum game. C) transform a zero-sum game into a positive-sum game. D) escape from a Prisoners' Dilemma situation.
The short-run supply curve of the perfectly competitive industry is found by summing the
a. AC curves of the individual firms in the industry. b. AVC curves of the individual firms in the industry. c. MC curves above AVC of the individual firms in the industry. d. There is no short-run supply curve in a competitive industry.
Which of the following resulted from the Smoot-Hawley trade bill of 1930?
What will be an ideal response?
A movement along the aggregate demand curve would be caused by a change in:
A. an appreciation in the value of the U.S. dollar. B. the quantity of real output demanded. C. an aggregate demand determinant. D. the price level.