As the number of days without rain increases, the amount of wheat grown per acre declines. A graph showing this relationship shows

Milton Friedman called the response of lower interest rates resulting from an increase in the money supply the ________ effect

A) liquidity B) price level C) expected-inflation D) income

Economic profit that stems from entrepreneurship reflects

a. market power achieved through the use of public policy that restricts entry into a market. b. the ability of some individuals to recognize and undertake economically beneficial projects that have gone unnoticed by others. c. windfall gains due to unanticipated changes in weather. d. the influence of special interest groups on the market process.