If your income goes up by 10% and you increase your pedicures by 5%, then your demand for pedicures is ________.

A liquid asset is

A) an asset that can easily and quickly be sold to raise cash. B) a share of an ocean resort. C) difficult to resell. D) always sold in an over-the-counter market.

In a model with money neutrality, how much should the money supply be increased to obtain a 1% increase in real output?

A) -1% B) between 0 and 1% C) 1% D) It cannot be done.