If Sally Smith creates VCU1 by playing an online game, the effect is to cause the nation's:
a. M2 money supply to remain the same.
b. M2 money supply to fall.
c. M2 money multiplier to rise.
d. Monetary base to fall.
.A
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In the Solow growth model, an increase in the marginal propensity to consume shifts the ________, with the implied change in the capital stock resulting in a ________ standard of living in the long run
A) steady-state investment line upward, higher B) steady-state investment line downward, higher C) national saving line upward, lower D) national saving line upward, higher E) national saving line downward, lower
$1 received n years from now has a value today of
A) ($1 + i)/i. B) $1/(1 + i). C) ($1 + i /i. D) $1/(1 + i .
If the government sets a maximum price at which a good or service can be sold, it thereby creates
A) a price floor. B) a black market price. C) a price ceiling. D) an illegal price control.
A firm suffers losses if
A. total revenue is greater than the total variable cost of production but less than total costs. B. price exceeds marginal cost. C. total revenue is greater than the total fixed cost of production. D. price exceeds average variable cost but is less than average total cost.