$1$

Multiple Choice

$1$ point

Other things equal, a decrease in the price level will

cause a movement down an aggregate supply curve.

shift the aggregate supply curve to the left.

cause a movement up a short$-$run aggregate supply curve.

shift the aggregate demand curve to the left.

$2$

Multiple Choice

$1$ point

Currency and checkable deposits are

assets of the Federal Reserve Banks or of financial institutions.

the major components of money supply M$1.$

of intrinsic value, which determines the relative worth of money.

redeemable for gold and silver from the Federal Reserve System.