Why does the payments system continue to change over time?
What will be an ideal response?
New forms of payments are introduced that increase the efficiency of the payments system by reducing transactions costs.
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As the price of cookies increases, firms that produce cookies will:
A. increase the supply of cookies. B. decrease the supply of cookies. C. increase the quantity of cookies supplied. D. decrease the quantity of cookies supplied.
Consider a diagram in which the variable measured on the y-axis remains constant while the variable measured on the x-axis increases. The graph is of this relationship is a
A) perpendicular line. B) line with slope equal to zero. C) line that has positive slope. D) line that has a negative slope.
What is deadweight loss and under what conditions does it occur?
What will be an ideal response?
Monetizing the debt causes
a. the money supply to contract. b. the money supply to rise. c. tax revenues to contract. d. tax revenues to rise.