The equilibrium quantity of money in circulation is determined by the:
A. nominal interest rate, real income, and the price level.
B. decentralized interactions between households and businesses.
C. interaction of an upward-sloping money supply curve and a downward-sloping money demand curve.
D. Federal Reserve.
Answer: D
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Governments,
A) like individuals, face opportunity costs. B) unlike individuals, do not face opportunity costs. C) only if they are relatively poor, face opportunity costs. D) only if they are running budget deficits, face opportunity costs.
The above figure shows the U.S. market for wheat. With international trade, the United States exports ________ of wheat
A) 300,000 tons B) 500,000 tons C) 700,000 tons D) 400,000 tons E) None of the above answers is correct because the United States imports wheat.