When the money market is drawn with the value of money on the vertical axis, if the Federal Reserve buys bonds, then the money supply curve
a. shifts rightward, causing the value of money measured in terms of goods and services to rise.
b. shifts rightward, causing the value of money measured in terms of goods and services to fall.
c. shifts leftward, causing the value of money measured in terms of goods and services to rise.
d. shifts leftward, causing the value of money measured in terms of goods and services to fall.
b
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The branch of economics that focuses on outcomes in highly aggregated markets, such as the markets for labor or consumption goods, is called: a. macroeconomics
b. positive economics. c. normative economics. d. microeconomics.
_____ represents the relation between total expenditures, or total spending, and the price level
a. Gross National Product b. Inflation c. Real Gross Domestic Product d. Aggregate supply e. Aggregate demand