In the aggregate demand-aggregate supply model in the short run, a decrease in the money supply is likely to cause a(n) _____
Fill in the blank(s) with the appropriate word(s).
decrease in both the price level and real GDP.
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You are the brand manager of Crest toothpaste and you observe that when you increase the price of Crest, your total revenue increases. How is that possible?
What will be an ideal response?
European banks began with which of the following?
A. Monarchs were the first bankers, lending out cash to help the poor learn a craft. B. Churches were the first bankers, lending out cash to help the poor learn a craft. C. Goldsmiths were the first bankers, and the paper receipts they issued for gold held on deposit became valued as money. D. Fishermen were the first bankers, and the paper receipts they issued for the fish they stored in the hulls of their ships became valued as money.
Special drawing rights are
A. international units of account held by the International Monetary Fund for member countries. B. the estimated level of oil reserves remaining in OPEC countries. C. credit accounts held by individual stockholders with portfolio investments in other countries. D. the reserves held by members of the European Union to back their accounts with the European Central Bank.
According to this Application, the recent result of the harmattan was to ________ the equilibrium price and ________ the equilibrium quantity of cocoa
A) increase; decrease B) decrease; increase C) increase; increase D) decrease; decrease