The income elasticity of demand for vacations is 5. If incomes increase by 3 percent next year, the quantity of vacations demanded at today's price will increase by ________ percent

The long-run effect of an increase in the money supply is to

A. increase the price level. B. decrease the interest rate. C. decrease the price level. D. increase the interest rate.

The monetary base is

A) currency and reserves of depository institutions. B) currency minus depository institutions' reserves. C) depository institutions' reserves minus Federal Reserve notes. D) the money borrowed by banks from other banks.