Suppose the Fed purchases $100 million of U.S. government securities from the public. How will this affect the money supply and the national debt?
a. The money supply will increase; the national debt will decline.
b. The money supply will decline; the national debt will increase.
c. The money supply will increase; the national debt will be unaffected.
d. The money supply will decrease; the national debt will be unaffected.
C
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Total revenue is equal to quantity multiplied by average revenue
a. True b. False Indicate whether the statement is true or false
Which of the following is an example of a normative statement?
A. The average price of a Whopper Jr. is $1.69. B. The United States ought to adopt a flat rate personal income tax. C. A higher percentage of prostitutes incarcerated in Miami test positive for AIDS when compared to registered prostitutes in Nevada. D. Average growth in real GDP per year was 1.84 percent between 2000 and 2010.