The Fed buys $25,000 of government securities. The desired reserve ratio is 20 percent and the currency drain ratio is zero. What will be the change in the quantity of money?

After 1945, the national debt as a percent of GDP:

a. decreased slightly. b. decreased substantially. c. remained about the same. d. increased slightly. e. increased substantially.

Which of the following is true at the output level where average total cost is at its minimum?

A) Marginal cost equals average total cost. B) Average variable cost equals fixed cost. C) Marginal cost equals average variable cost. D) Average total cost equals average fixed cost.