A checking deposit functions as
a. a medium of exchange and as a store of value.
b. a medium of exchange, but not as a store of value.
c. a store of value, but not as a medium of exchange.
d. neither a medium of exchange nor as a store of value.
a
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An increase in real GDP leads to
A) a movement upward along the demand for money curve but no shift of the curve. B) a movement downward along the demand for money curve but no shift of the curve. C) neither a shift in the demand for money curve nor a movement along the curve. D) a leftward shift in the demand for money curve. E) a rightward shift in the demand for money curve.
The unemployment rate measures the percentage of:
a. people in the civilian labor force who are without jobs and actively seeking jobs. b. the U.S. population that is out of work and actively seeking a job. c. the civilian noninstitutionalized population that is out of work and actively seeking a job. d. people over age 21 who are without jobs and actively seeking jobs.
How does rent control tend to cause persistent imbalances in the market for housing?
a. Quantity demanded exceeds quantity supplied but price cannot rise to remove the shortage. b. Quantity demanded exceeds quantity supplied but price cannot fall to remove the surplus. c. Quantity supplied exceeds quantity demanded but price cannot rise to remove the shortage. d. Quantity supplied exceeds quantity demanded but price cannot fall to remove the surplus.
At relatively low wage rates the ____________ outweighs the ____________.
A. income effect; substitution effect B. substitution effect; income effect C. marginal revenue product; resource demand D. None of these choices are correct.