When money serves as a standard for comparing values of different things, it is functioning as a
A) store of value.
B) hedge against inflation.
C) standard of deferred payment.
D) unit of accounting.
D
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When the unemployment rate is ________ the natural unemployment rate, real GDP is ________ potential GDP
A) below; above B) above; the same as C) the same as; below D) the same as; above E) above; above
If the demand curve for bikes shifts leftward and the supply curve for bikes shifts rightward, the equilibrium
A) price of bikes definitely increases. B) price of bikes definitely decreases. C) quantity of bikes definitely increases. D) quantity of bikes definitely decreases.
An important factor that increased international capital flows in the latter part of the 1800s was
A) the creation of the International Monetary Fund. B) the creation of numerous regional trade agreements. C) the rapid rate of East Asian economic growth. D) technological innovations. E) the creation of the World Bank.
When expansionary fiscal and monetary policies are joined with a ________ exchange rate system, the various components of economic policy often interact in ways that lead to a crisis followed by a steep recession
A) fixed B) floating C) crawling peg D) flexible