If the demand for money increases as a result of a(n) _______ in the price level, the interest rate will ______.

A famous opera star made $2 million per year. He said he would rather sell insurance if he couldn't make more than $100,000 per year. If he is telling the truth, what's his opportunity cost as an opera star?

A) $2.0 million B) $100,000 C) $1.9 million D) $2.1 million

The annual colonial trade deficit (which equaled 20,000-40,000 pounds sterling in 1768-1772) was mostly financed by:

a. an outflow of specie. b. paper money. c. short-term credit from England. d. payments made by a few very wealthy colonists.