During the 1980s and early 1990s, it was believed that the natural rate of unemployment in the U.S. was equal to

Make use of the quantity equation to answer the following problem. If the Fed increases the money supply by 4%, velocity increases by 1%, and economic growth is 3%, by how much will the price level increase?

What will be an ideal response?

Consider the demand curve of the form Q = a - bP. If a is a positive real number, and b = 0, then demand is

A) completely inelastic. B) inelastic, but not completely. C) unit elastic. D) elastic, but not infinitely.