Which of the following is a good measure of economic prosperity?
a. The level of real GDP
b. The growth rate of real GDP
c. The level of nominal GDP
d. The price level
a
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A double coincidence of wants problem can be overcome by
A) commodity money. B) fiat money. C) banks. D) all of the above.
Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. The restrictive monetary policy followed by the Fed. b. Government spending was increased by only a small amount. c. The temporary nature of the tax rebates and spending increases created uncertainty and exerted only a weak impact on aggregate demand. d. The budget deficits were too small to exert much impact on aggregate demand, output, and employment.
The relationship between quantity supplied and price is __________ and the relationship between quantity demanded and price is ____________.
A. direct; direct B. inverse; inverse C. inverse; direct D. direct; inverse
Under rate of return regulation,
A. P = AVC. B. P = MC. C. P > ATC. D. P = ATC.