The longest expansion of the United States economy since 1925 began in:
A. 1991.
B. 1961.
C. 1945.
D. 1982.
Answer: A
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The quantity theory of money and prices rests on the assumption that
A) the minimum wage is constant. B) the velocity of money is constant. C) the nominal interest rate is constant. D) the foreign exchange rate is constant.
An increase in real GDP will shift the money demand curve to the ________, causing the nominal interest rate to ________
A) right; increase B) right; decrease C) left; increase D) left; decrease
Since price tends to equal marginal utility, the price of water is low and the price of diamonds is high
a. True b. False Indicate whether the statement is true or false
The superstar phenomenon explains why professional athletes earn more than amateur athletes
a. True b. False Indicate whether the statement is true or false