A key difference between a Walrasian market and most auction markets is that in most auction markets
A) transactions occur continuously.
B) bid prices exceed offer prices.
C) only dealers have complete information.
D) offer prices exceed bid prices.
A
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All other things unchanged, the velocity of money will
A) increase if the quantity of money demanded decreases. B) increase if the quantity of money demanded increases. C) decrease if the quantity of money demanded decreases. D) fall to zero if the quantity of money demanded increases.
Because the Fed increased the money supply after the recession in the early 1990s, the
a. AD curve shifted to the left b. economy returned to equilibrium GDP at a price level that was lower than the original price level c. price level continued to increase after the recession ended d. price level fell back to its original level e. long-run equilibrium GDP decreased