If the nominal money supply grows 10%, the inflation rate is 6%, and the income elasticity of money demand is 1.0, then real income growth equals

Most financial decisions involve two related elements:

a. advice and consent. b. investment and taxes. c. time and risk. d. saving and consumption.

If a monopolist wants to increase the amount it sells, it

A) will keep the price the same. B) must lower the price on all units. C) must accept lower profits. D) must lower the cost of production.