Gresham's Law states
a. supply creates its own demand
b. demand creates its own supply
c. MV = PQ
d. good money drives out bad
e. bad money drives out good
E
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A lawsuit seeking compensation for damage from pollution
A) will ruin any chances the Coase theorem has of working to avoid the situation in the first place. B) is a substitute for bargaining, but an inefficient one. C) is a substitute for bargaining, and it can lead to the efficient solution. D) is preferable to switching the property rights between the parties. E) is how the Coase theorem was meant to work in the first place.
Why does an increase in the price level cause a decrease in real GDP demanded?
a. Consumer wealth increases. b. Net exports will increase. c. Interest rates decrease and cause higher investment. d. Net exports will decrease.