Josie wants to trade swimming lessons for cooking lessons. Maria wants to trade cooking lessons for swimming lessons. Josie and Maria have
A. the basis for a liquidity exchange.
B. the basis for a double fiat exchange.
C. a double incidence of demand.
D. a double coincidence of wants.
Answer: D
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The narrowest money measure is
A) currency plus non-interest bearing checking accounts. B) currency plus all checking accounts. C) currency plus all deposits at financial institutions. D) definitive money.
Financial intermediaries bring suppliers and demanders together in the market for
a. checks b. loanable funds c. saving d. physical capital e. income
Figure 11-6
At its optimal output level, the profit-maximizing monopolist in Figure 11-6 has total costs equal to
A. zero. B. P2× Q2. C. P3× Q2. D. P4× Q3.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A