A firm in perfect competition perceives the demand curve to be downward sloping

The M1 money supply consists primarily of: a. savings deposits

b. certificates of deposit. c. miscellaneous near-monies. d. checkable deposits. e. money market mutual fund accounts.

During the 1970s, U.S. prices generally rose faster than prices in other parts of the world. Which of the following changes would the open economy effect predict took place in response to these price level changes? a. Americans reduced the proportion of foreign goods bought since their foreign prices became relatively lower. b. Americans reduced the amount of investment they undertook because

interest rates increased. c. Americans reduced the amount of goods and services they wanted to purchase for consumption because they felt less wealthy. d. Americans reduced the fraction of purchases they made from domestic producers of goods and services, since foreign prices became relatively lower.