Opportunity costs arise because of resource scarcity
a. True
b. False
A
Economics
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In the figure above, what happens if the Fed increases the quantity of money by 8 percent?
A) The interest rate rises to 1.08. B) The value of money rises to 1.08. C) The value of money falls to 0.92 and there is a movement downward along the LRMD. D) The LRMD curve shifts rightward to restore equilibrium. E) The price level falls to 1.08.
Economics
What is the "midpoint formula" and why is it used?
What will be an ideal response?
Economics