The subprime financial crisis caused a recession because of the ________ in adverse selection and moral hazard problems and the ________ in housing prices

In a model with money neutrality, how much should the money supply be increased to obtain a 1% increase in nominal output?

A) -1% B) between 0 and 1% C) 1% D) It cannot be done.

If the American Medical Association lobbied successfully to eliminate licensing laws for physicians,

a. physicians' salaries would increase b. the supply curve of physicians would shift to the left c. physicians' salaries would decrease d. the supply curve of physicians would become more inelastic e. the supply curve of physicians would become more elastic