Even with a limited number of governments, everyone's government demand can be met
a. True b. False
b
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Lisa is spending all of her income on compact discs and downloadable games for her smart phone. She finds that the marginal utility from the last compact disc she buys is 30 and the marginal utility from the last downloadable game is 10
The price of a compact disc is $15 and the price of a downloadable game is $5. Lisa should A) increase her consumption of compact discs. B) increase her consumption of downloadable games. C) not change her consumption of downloadable games and compact discs. D) decrease the price of downloadable games.
Which of the following is NOT included in the MZM definition of money?
A) currency. B) money market funds. C) travelers checks. D) small-denomination time deposits.
If the market ratio of silver to gold is 16 to 1 and the mint ratio is 15 to 1,
a. people will cease to use gold and silver as money. b. the Treasury will be forced to issue paper money. c. gold is undervalued at the mint. d. silver is undervalued at the mint.
The economy has no international trade and no income taxes. In the short run, if government purchases were to decrease by $25 billion and the marginal propensity to consume was equal to 0.66 then real GDP would decrease by
A) $16.5 billion. B) $37.8 billion. C) $8.25 billion. D) $75 billion.