Draw a graph of the demand, marginal revenue, average total cost, and marginal cost curves.
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Which of the following is an example of using money as a store of value?
A) paying for a new dress with a credit card B) paying cash for a new automobile C) paying rent with a check on a demand deposit D) keeping $200 on hand for an emergency
The curve showing the short-run relationship between the ________ and the ________ is called the Phillips curve
A) unemployment rate; inflation rate B) exchange rate; real interest rate C) price level; real GDP D) nominal interest rate; real interest rate
Part of the explanation for why the aggregate-demand curve slopes downward is that a decrease in the price level
a. decreases the real value of money. b. increases the real value of the dollar in foreign exchange markets. c. decreases the interest rate. d. All of the above are correct.
Assume that Burger King employees work in an air-conditioned environment while McDonalds employees do not. Other things equal, you would expect wages to be ____ in Burger King because ____.
a. higher; Burger King is a more prestigious place to work b. higher; Burger King employees are more productive c. lower; McDonald's employees are more productive d. lower; Burger King has more favorable working conditions