Joe's income is $500, the price of food (F) is $2 per unit, and the price of shelter (S) is $100. Which of the following represents his budget constraint?
A) 500 = 2F + 100S
B) F = 250 - 50S
C) S = 5 - .02F
D) All of the above.
D
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The demand for money as a cushion against unexpected contingencies is called the
A) transactions motive. B) precautionary motive. C) insurance motive. D) speculative motive.
"Lender of last resort" means that the central bank
a. has to lend money to failing banks. b. should lend money to individuals if their bankruptcy would threaten the banking system. c. should lend money to banks that are suffering short-term liquidity shortages. d. should lend money to pay for government deficits. e. None of the above
The purchasing power (real value) of the federal minimum wage in March 1990 was the same as it was in 1981
Indicate whether the statement is true or false
The supply of the U.S. dollar on the foreign exchange market is generated by:
a. demand for U.S. exports. b. the U.S. demand for the products and financial assets of other countries. c. the U.S. demand for domestic goods and services. d. foreign demand for U.S. products. e. foreign demand for U.S. financial assets.