Giving the store clerk a $20 bill for a pair of earbuds priced at $20 is an example of money serving as a
A. medium of exchange.
B. unit of accounting.
C. store of value.
D. standard of deferred value.
Answer: A
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The Fed increases the quantity of money to counteract
A) a federal budget surplus. B) an inflationary ga
Consider a society facing the production possibilities curves in the figure shown. What is the most likely cause of a society moving from PPF1 to PPF2?
A. More workers
B. Better printing press technology
C. A desire to read more books
D. Better sewing technology
Economics: a. is a narrowly focused discipline
b. is a broad-ranging, problem-solving discipline. c. concerns itself only with monetary decisions. d. says very little about "everyday life."
A decrease in aggregate supply means ________.
A. the real domestic output would increase and rises in the price level would become smaller B. both the real domestic output and the price level would decrease C. both the real domestic output and rises in the price level would become greater D. the real domestic output would decrease and the price level would rise