Matt's real wage in 2014 is $26.80. If the price level is 104, what is Matt's nominal wage?
A) $30.80 B) $27.87 C) $26.80 D) $25.77
B
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Differences in income are most directly related to which of the following economic question?
A) What goods and services are produced? B) In what quantities are various goods and services produced? C) How are goods and services produced? D) Who consumes the goods and services that are produced?
Which of the following information about fiat money is false? Fiat money
A) has little to no value except as money. B) is backed by gold. C) is authorized by a central bank or governmental body. D) serves as a medium of exchange.
In 1945–52, the records show that falling price levels stimulated increases in real Gross National Product (GNP)
Indicate whether the statement is true or false
A technological breakthrough that increases the marginal productivity of capital would increase the
a. demand for loanable funds, leading to a lower equilibrium market interest rate b. supply of loanable funds, leading to a lower equilibrium market interest rate c. demand for loanable funds, leading to a higher equilibrium market interest rate d. supply of loanable funds, leading to a higher equilibrium market interest rate e. supply of loanable funds but have no impact on the equilibrium market interest rate