Moving ________ the short-run Phillips curve is equivalent to moving ________
A) downward along; downward along the aggregate demand curve
B) downward along; downward along the potential GDP line
C) downward along; upward along the aggregate demand curve
D) downward along; upward along the potential GDP line
E) upward along; upward along the aggregate supply curve
E
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If a person withdraws $500 from his/her savings account and puts it in his/her checking account, then M1 will ________ and M2 will ________
A) not change; not change B) not change; increase C) increase; not change D) not change; decrease E) increase; decrease
The relationship between the government deficit and the change in the monetary base is
A) deficit equals change in government debt held by the public minus change in monetary base. B) deficit equals change in government debt held by the public plus change in monetary base. C) deficit equals change in government debt outstanding plus change in monetary base. D) deficit equals change in government debt outstanding minus change in monetary base.