The difference between the exchange value of a money and its cost of production is defined as
A) seigniorage.
B) net value.
C) net exchange profit.
D) the face value.
A
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The money supply is $6 million, currency held by the nonbank public is $2 million, and the reserve—deposit ratio is 0.1. The monetary base is equal to
A) $2 million. B) $2.4 million. C) $2.6 million. D) $4 million.
When large oligopolistic firms negotiate with the unions of their employees, the resulting bargaining process closely resembles
a. perfect competition. b. a dual labor market. c. monopolistic competition. d. bilateral monopoly.
World-class models receive significant economic rents because
A) their talents and abilities are in fixed supply. B) there is a shortage of world-class models. C) there is a surplus of world-class models. D) there is no equilibrium quantity of world-class models.
Suppose Jackie can buy either video games or Blu-rays. If the prices of both goods double, and Jackie's income also doubles, what will happen to Jackie's budget line?
A. It will shift out. B. It will shift in. C. It will not change. D. It will swivel so that the slope is twice as steep.