Veronica received a federal income tax refund of $600 in May 2016. Veronica put this money in a saving account so that she could spend it when she went on vacation in July 2016. This is an example of money serving as a(n)
A. investment good.
B. medium of exchange.
C. unit of account.
D. store of value.
Answer: D
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The Federal Reserve monetary policy goals of maximum employment means
A) aiming for an amount of employment that exceeds full employment. B) cyclical unemployment should not necessarily be minimized. C) keeping the unemployment rate close to the natural unemployment rate. D) a zero percent natural unemployment rate. E) a zero percent unemployment rate.
Lending abroad represents:
A) a capital outflow. B) a capital inflow. C) positive net savings. D) none of the above.
A reduction in the central bank's inflation target will result in:
A. the long-run aggregate supply curve having an upward slope. B. a decrease in potential output. C. no change in potential output. D. an increase in potential output.
As Americans have become more health conscious, rules about food labels have become more complex and stringent. This is an example of government acting as
A. referee. B. redistributor. C. taxer. D. defender.