Which of the following is the best example of a pair of substitute goods?

Refer to Table 11-2. Calculate the GDP per capita for each country in the table. Which country has the highest standard of living? Why?

What will be an ideal response?

If the money multiplier is 10, the sale of $1 billion of securities by the Fed on the open market causes a

A) $10 billion decrease in the money supply. B) $1 billion decrease in the money supply. C) $1 billion increase in the money supply. D) $10 billion increase in the money supply.