Assuming that good "x" is measured on the x-axis and good "y" is measured on the y-axis, if the utility for the two goods "x" and "y" can be measured as U = x, then it can be concluded that
A) "x" and "y" are perfect complements.
B) "y" is a "bad".
C) the indifference curves on the x,y graph are upward sloping.
D) the indifference curves on the x,y graph are vertical.
D
Economics
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With a monetary growth rule as proposed by the monetarists, during a recession the rate of growth of the money supply would
A) not change. B) increase. C) decrease. D) decrease or increase depending on economic conditions.
Economics
Irving Fisher took the view that the institutional features of the economy which affect velocity change ________ over time so that velocity will be fairly ________ in the short run
A) rapidly; erratic B) rapidly; stable C) slowly; stable D) slowly; erratic
Economics