Which of these is not a beneficial supply shock?

Which of these is not a beneficial supply shock?
 a. An abundant harvest that increases food supplies
 b. The discovery of natural resources
 c. Reductions in business taxes
 d. Technological advances
 e. Establishment of the Occupational Safety and Health Administration (OSHA)

QUESTION 2

According to the equation of exchange, if real GDP is 2 trillion and the money supply is 0.5 trillion, the velocity of money:
 a. must be 4.
 b. must be 1/4.
 c. must be 4 trillion.
 d. must be 1/4 trillion.
 e. cannot be determined unless we know the price level.

QUESTION 3

Which of the following supply shocks will shift the long-run aggregate supply curve outward?
 a. An increase in business taxes
 b. An increase in gasoline taxes
 c. An increase in the cost of raw materials
 d. An increase in the amount and cost of government regulation
  e. An increase in agricultural output

QUESTION 4

According to the equation of exchange, if nominal GDP equals 6 trillion and the money supply equals 1 trillion, the velocity of money:
 a. must be 6.
 b. must be 1/6.
 c. must be 6 trillion.
 d. must be 1/6 trillion.
 e. cannot be determined unless we know the price level.

QUESTION 5

The main effect of an increase in capital stock is a(n):
 a. rightward shift of the long-run aggregate supply curve.
  b. rightward shift of the aggregate demand curve.
 c. leftward shift of the long-run aggregate supply curve.
  d. leftward shift of the aggregate demand curve.
 e. increase in price and output levels.

QUESTION 6

If the money supply is 1,000 . the price level is 3, and real income (or output) is 5,000 . then the velocity of money is _____.
 a. 0.2
 b. 0.6
 c. 1.67
  d. 5
 e. 15

QUESTION 7

The capital stock of an economy increases:
 a. whenever money in circulation is decreased.
  b. whenever gross investment is positive.
 c. whenever gross investment is negative.
 d. only if net investment is positive.
 e. only if gross investment is zero.

QUESTION 8

If the money supply in an economy equals 1,000 and nominal GDP equals 3,000 . then according to the equation of exchange, velocity of money:
 a. equals 1/3.
 b. equals 3.
 c. equals 3 million.
 d. cannot be determined since we do not know anything about prices.
  e. cannot be determined since we do not know anything about real GDP.