In an open economy, when the Fed increases the supply of money, it will increase net exports and aggregate demand

In the Cobb-Douglas production function Y = AK3/4L1/4,

A) capital is a more expensive input than labor. B) capital is more plentiful than labor. C) diminishing returns to capital are three times greater than are diminishing returns to labor. D) capital has a larger share in national income than does labor.

During the Civil War (1861–1865), hyperinflation occurred in

(a) the North. (b) the South. (c) both the North and South. (d) neither the North nor the South.