Suppose you are offered a new smartphone in exchange for thirty hours of your work in your friend's garden. This is an example of
A) money as a standard of deferred payment. B) barter.
C) money as a medium of exchange. D) money as a store of value.
B
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If your MPC is 0.5, then when your disposable income increases by $100, your consumption expenditure increases by
A) $200. B) $100. C) $95. D) $50. E) $5.
Does U.S. Steel prefer to own coal mines? Give reason for your answer
"It is only insofar as some sort of order arises as a result of individual action but without being designed by any individual that a problem is raised which demands a theoretical explanation.". This statement is from:
a. Samuelson b. Friedman c. Stiglitz d. Hayek e. Marx
Which of the following has most likely caused the shift to S2?
a. a decrease in input prices
b. an increase in prices of production substitutes
c. an expectation of a higher future price
d. a decrease in number of sellers