What two factors are necessary for demand?
a. desire for a good or service and its availability in the market
b. desire for a good or service and the ability to pay for it
c. the availability of a good or service and the ability to pay for it
d. familiarity with a good or service and the desire to pay for it
Ans: b. desire for a good or service and the ability to pay for it
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The demand for nominal money
A) increases as the price level increases. B) decreases as the price level increases. C) depends on the quantity of money. D) is the same as the demand for real money.
The claims of creditors of a bank against the bank's assets are called
A. net worth. B. liabilities. C. loans. D. required reserves.
In the 19th century, hospitals had notorious reputations—questionable places to visit, risky places to stay. A number of advances changed all this and led to the transition to the modern hospital system. Which of the following changes had nothing to do with the transition?
a. Advances in medical technology b. Availability of health insurance to pay the bills c. Urbanization d. An aging population and the increased incidence of chronic illness that followed e. Development of the germ theory of disease
All of the following are reasons average workers in the United States today produce more than their counterparts a century ago EXCEPT that the modern worker:
A. is better educated. B. has more physical capital to work with. C. has better technology to work with. D. works longer hours.