When the Fed ________, the quantity of banks' reserves decreases

Which of the following statements is true of world GDP before 1800?

A) The entire world population was living above the subsistence level of income. B) The GDP per capita in all nations was less than $500. C) Most of the countries were growing at a rate of more than 6% per year. D) Increase in GDP resulted in increase in consumption but not investment.

When the price of a product decreases, the marginal revenue product curve in a perfectly competitive market

A) does not change. B) becomes flatter. C) shifts to the right. D) shifts to the left.