An increase in the real money supply can result from:
A) increase in the nominal money supply or an increase in the price level.
B) increase in the nominal money supply or a decrease in the price level.
C) decrease in the nominal money supply or an increase in the price level.
D) decrease in the nominal money supply or a decrease in the price level.
B
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While making a purchase decision using marginal thinking, a buyer should buy the good that yields the:
A) highest marginal benefit per dollar spent. B) lowest marginal benefit per dollar spent. C) highest average benefit plus marginal benefit per dollar spent. D) lowest average benefit plus marginal benefit per dollar spent.
Which of the following is an example of a durable good?
(A) A box of cereal (B) A pack of baseball cards (C) A used car (D) A paperback book