Real GDP per capita is calculated by dividing the value of real GDP for a country by the country's adult population
Indicate whether the statement is true or false
FALSE
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Which part or parts of the following statement describe each of the three functions of money?
"A pair of prescription glasses costs $250. I am spending $250 on one pair right now, and am saving $250 to buy a second pair in 6 months when the new styles are introduced."
Whenever a choice is made:
A) the cost of that choice could be referred to as opportunity cost. B) the cost is easy to measure in dollar terms. C) a free good must be involved. D) scarcity is not the problem.
A monetarist would advocate increasing the growth rate of money during an inflation.
Answer the following statement true (T) or false (F)
Refer to Table 18.1. M2 in this simple economy equals
A) $1,050. B) $4,050. C) $4,550. D) $5,100.