The price of bananas will increase in response to:
A. an excess demand for bananas.
B. an increase quantity of bananas supplied.
C. an excess supply of bananas.
D. an increase in the supply of bananas.
Answer: A
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An open market ________ by the Fed increases the money supply, which leads to ________ interest rates and increased GDP
A) sale; decreased B) purchase; decreased C) purchase; increased D) sale; increased
If we know that the exchange rate is $1.60 per pound then the exchange rate of pounds per dollar is
a. greater than 1.60 b. 0.80 c. 1.00 d. 0.625 e. 1.60
The Congressional Budget Office, which is staffed by economists, provides Congress with independent evaluations of policy proposals
a. True b. False Indicate whether the statement is true or false
Soup is an inferior good if the demand
a. for soup falls when the price of a substitute for soup rises. b. for soup rises when the price of soup falls. c. curve for soup slopes upward. d. for soup falls when income rises.