Saving $100 will:
A. increase wealth by $100.
B. decrease wealth by $100.
C. increase wealth by $100 only if the $100 is used to repay a debt.
D. increase wealth by $100 only if the $100 is used to purchase an asset.
Answer: A
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The face value of money or income is called its ________ value
A) external B) real C) marginal D) nominal
An increase in supply will cause the equilibrium price to ________ and the equilibrium quantity to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will
A) immediately shut down for the short run. B) be maximizing profits. C) increase its output to increase its profit. D) decrease its output to increase its profit.
The goal of expansionary fiscal policy is to shift the _________ curve to the _________
Fill in the blank(s) with the appropriate word(s).