Economic income is the sum of consumption and
A. the change in net worth.
B. wealth.
C. net worth.
D. transfer payments.
Answer: A
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Refer to Figure 29-1. The depreciation of the euro is represented as a movement from
A) C to D. B) B to C. C) B to A. D) D to A.
In the equation of exchange MV = PQ, V stands for
a. inventory turnover. b. total transactions in the economy. c. average rate of turnover of the money supply. d. variation in interest rates.
Assume the central bank decides to raise the discount rate. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the right. b. Start the analysis in the real credit market with demand for real credit shifting to the left. c. Start the analysis in the real credit market with demand for real credit shifting to the right. d. Start the analysis in the real credit market with supply of real credit shifting to the left. e. Start the analysis in the real credit market with supply of real credit shifting to the right.
Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below.
The public is willing to pay $14 for the ________ acre of parkland.
A. 2nd B. 6th C. 4th D. 8th