One surprising thing about the U.S. money stock is that
a. banks hold so much currency relative to the public.
b. the public holds so much currency relative to banks.
c. there is so little currency per person.
d. there is so much currency per person.
d
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When a bakery manager reports that productivity of the 15 workers at her bakery last month was 1,800 loaves per worker, she is referring to the
A. marginal product of labor. B. total product of labor. C. total product of capital. D. average product of labor.
"In the classical model, the equilibrium level of real Gross Domestic Product (GDP) is completely supply-determined." Do you agree or disagree? Why?
What will be an ideal response?
What are the components of M2?
What will be an ideal response?
If product prices increase slower than nominal wages increase, then the real value of wages decreases.
Answer the following statement true (T) or false (F)