Refer to Budget Lines. The only situation where we can conclude that this consumer's tastes must have changed is when we observe himAnswer the following statement(s) true (T) or false (F)
a. buying B last year and buying A this year.
b. buying D last year and buying A this year.
c. buying B last year and buying C this year.
d. buying D last year and buying C this year.
c. buying B last year and buying C this year.
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Some people argue that to prevent continued dependence on foreign oil, the United States should restrict imports of foreign oil and increase domestic production. What effects would such trade restrictions have on the market for oil in the United States?
What will be an ideal response?
Suppose velocity = 5, money supply = $200, and price = 2. What is the value of real GDP?
A) $10 B) $40 C) $400 D) $500
The demand for money curve will shift to the left when
a) the interest rate increases b) the price level increases c) aggregate output decreases d) the price of bonds is expected to decrease e) all of the above will shift the money demand curve to the left
A financial innovation, such as the introduction of money market mutual funds, which increases the liquidity of alternatives to money, would
A. increase money demand, shifting the LM curve up and to the left. B. increase money demand, shifting the LM curve down and to the right. C. decrease money demand, shifting the LM curve up and to the left. D. decrease money demand, shifting the LM curve down and to the right.