Which of the following leads to a lower level of unemployment in the long run?
a. both an increase in the size of the money supply and an increase in the money supply growth rate
b. an increase in the size of the money supply but not an increase in the money supply growth rate
c. an increase in the money supply growth rate, but not an increase in the size of the money supply
d. neither an increase in the size of the money supply nor an increase in the money supply growth rate
d
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Sheena gets her paycheck on the first day of every month and spends it over the month to purchase various goods and services. What are the functions that money is performing in this case?
What will be an ideal response?
Which of the following statements is true? a. Over time, when demand for health care continues to rise relatively more than supply, the cost of health care falls. b. Over time, when demand for health care continues to rise relatively more than supply , the cost of health care continues to rise. c. An increase in the demand for health care is accompanied by an outward shift in the supply curve
d. The price of health care rises either with a fall in demand or an increase in supply. e. The change in the demand for health care with no change in supply causes the price to fall continuously.
Which of the following is not an example of market failure?
a. Extreme income inequality b. Efficient equilibrium c. Lack of competition d. Externalities
Which of the following issues is most unlikely to be addressed by an economist practicing positive economics?
A) the relationship between the minimum wage and the number of unemployed unskilled workers B) the effect of a minimum wage increase on inner-city crime rates C) the desirability of a minimum wage increase D) the consequences of implementing a minimum wage law in China