If there is a shortage in the market for athletic shoes,
a. the price should rise to eliminate the shortage
b. inventories of athletic shoes will grow
c. demand will decrease to restore equilibrium
d. firms will reduce production to restore equilibrium
e. supply will increase to restore equilibrium
A
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If the Fed sells U.S. government securities, the
A) money supply decreases, and the money supply curve shifts to the right. B) money supply decreases, and the money supply curve shifts to the left. C) money supply increases, and the money supply curve shifts to the left. D) money supply increases, and the money supply curve shifts to the right.
Government expenditures are defined as
A) government spending on goods and services plus transfer payments. B) the excess of total expenditures over total revenues. C) the sum of all past borrowing by the government. D) the excess of total revenues over total expenditures.