Denny's lists the price of a Grand Slam Breakfast at $4.99 a plate. Listing the price on the menu is an example of money serving as a(n)
A. unit of account.
B. store of value.
C. investment good.
D. medium of exchange.
Answer: A
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Decreases in autonomous spending cause rightward shifts of the aggregate demand and supply curves
Indicate whether the statement is true or false
The more bowed (skewed) the Lorenz curve
A) the more equal the distribution of income. B) the greater the number of households in the society. C) the more unequal the distribution of money income. D) the greater the total income of the society.
In accordance with the law of supply, both individual and market supply curves are drawn:
A. horizontal. B. vertical. C. downward-sloping. D. upward-sloping.
For this question, assume that expectations of productivity are slow to adjust. Further assume that A had been increasing by 2% a year. Now suppose that A increases by 5% in period t. This increase in productivity growth will cause
A) the real wage to rise and no change in the natural rate of unemployment. B) the WS relation to shift up more than the PS relation. C) the natural rate of unemployment to fall. D) the real wage to fall.