Everything else held constant, an increase in the excess reserve ratio will mean ________ in the M1 money multiplier and ________ in the M2 money multiplier

Implicit costs involve an exchange of money

Indicate whether the statement is true or false

A favorable supply shock would

A) shift the production function up and decrease marginal products at every level of employment. B) shift the production function down and decrease marginal products at every level of employment. C) shift the production function down and increase marginal products at every level of employment. D) shift the production function up and increase marginal products at every level of employment.