A one percentage point change in the required reserve ratio would change the money supply by less than one percent, other things being equal

Economists measure the price level

A. by keeping track of nominal GDP. B. using a price index. C. by measuring the growth rate in money supply. D. by measuring the growth rate in real GDP.

Along a downward-sloping linear demand curve,

a. slope is constant and elasticity is changing b. slope is changing and elasticity is constant c. both slope and elasticity are constant d. both slope and elasticity are changing e. no generalizations can be made about slope