The simple quantity theory of money predicts that if
A) the money supply rises by $200, then GDP falls by $200.
B) GDP rises by $400, then the money supply rises by $400.
C) the money supply rises by 10 percent, then the price level rises by 10 percent.
D) the money supply falls by $300, then GDP rises by $300.
C
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A surplus is defined as
A) the excess of total expenditures over total revenues. B) government spending plus transfer payments. C) the sum of all past borrowing by the government. D) the excess of total revenues over total expenditures.
Which of the following statements about the Sherman Act is CORRECT?
A) The Sherman Act was the second federal antitrust law. B) The Sherman act legalized monopolization if the company behaved "reasonably" once it became a monopoly. C) The Sherman Act outlawed natural monopolies. D) The Sherman Act made restriction of interstate trade illegal.