A medium of exchange is
A) any asset that sellers will accept as payment.
B) a measure by which prices are expressed.
C) an asset that is used to settle future debts.
D) the thing traded when barter takes place.
A
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Refer to Table 13-9. Suppose that the data in the table above reflects the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2012 and 2013?
a. 2%
b. 5%
?. 8%
d. 11%
e. 13%
When a government chooses to have a zero deficit with regard to revenues and spending, it is operating with what kind of budget?
A) a slow economy budget B) a balanced budget C) a conservative budget D) a taxpayer-based budget
The welfare rolls today are
A. much higher than they were in 1994. B. A little higher than they were in 1994. C. a little lower than they were in 1994. D. much lower than they were in 1994.
Suppose a tax cut affects aggregate demand and aggregate supply. Which of the shifts raise real GDP?
a. both the shift of aggregate demand and the shift of aggregate supply b. the shift of aggregate demand, but not the shift of aggregate supply c. the shift of aggregate supply, but not the shift of aggregate demand d. neither the shift of aggregate demand nor the shift of aggregate supply