Shoe-leather costs refer to:
A. the money, time, and opportunity used to change prices to keep pace with inflation.
B. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all.
C. the time, money, and effort one has to spend managing cash in the face of inflation.
D. labor costs associated with inflation.
Answer: C
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Answer the next question on the basis of the following table in which columns (1) and (2) indicate the transactions demand (Dt) for money and columns (1) and (3) show the asset demand (Da) for money.(1)Interest Rate(2)Dt(3)Da12%$100$010100208100406100604100802100100If the money supply is $160, the equilibrium interest rate will be
A. 8%. B. 4%. C. 10%. D. 6%.
The additional benefit of increasing some activity by one-unit is called the
A) scarcity. B) total benefit. C) opportunity cost. D) marginal benefit. E) unit cost/benefit.
Which of the following could be responsible for an increase in the price of wheat?
a. an increase in the supply of wheat b. an increase in the demand for wheat c. a decrease in the demand for wheat d. a simultaneous increase in supply and decrease in demand for wheat
The rate of unemployment tends to be lowest for:
A. Black teenagers B. White teenagers C. Black adult males D. White adult males