The three functions of money are
A. implementing monetary policy, fiscal policy, and structural policy.
B. spending for consumption, investment, and government purchases.
C. serving as a medium of exchange, unit of account, and store of value.
D. measuring balance of payments, exchange rates, and interest rates.
Answer: C
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Refer to Table 23-4. Given the consumption schedule in the table above, the marginal propensity to consume is
A) 0.5. B) 0.6. C) 0.75. D) 0.8.
A significant decline in real GDP is called a
a. recession. b. depression. c. peak. d. trough.
Calculate the firm's total profit.
An increase in regulation will cause
A. AS to increase (move down and to the right). B. AD to decrease (move to the left). C. AD to increase (move to the right). D. AS to decrease (move up and to the left).