An increase in the price level or in the real GDP, with velocity stable, shifts the :
a. money demand curve leftward.
b. money supply curve leftward.
c. money demand curve rightward.
d. money supply curve rightward.
c
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Why did American colonists have trouble redeeming Continentals, representative money backed by the Second Continental Congress?
(A) There was a shortage of gold and silver. (B) The government had no power to collect taxes. (C) Colonists preferred to use bills issued by the Massachusetts Bay Colony. (D) They were thought to be a symbol of central government control.
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, then
A) the United States has a comparative advantage in corn production. B) Mexico has a comparative advantage in corn production. C) the United States cannot gain from trade with Mexico. D) the United States has a comparative advantage in auto production.