Which function of money enhances the ability of households to accumulate wealth
A) medium of exchange
B) store of value
C) valuable relative to its weight
D) does not become worn out too quickly
B
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If the capital-labor ratio equals 1.5 in the steady state, depreciation equals 20, and dilution equals 10, break-even investment equals
A) 15. B) 20. C) 30. D) 45.
Monopolistically competitive sellers have some ability to influence the price of their products
a. True b. False Indicate whether the statement is true or false
During economic slowdowns (recessions) the velocity of money tends to:
A. increase dramatically. B. increase slightly. C. decrease. D. remain relatively stable.
The marginal propensity to consume (MPC) is defined to be:
A. total income divided by total consumption. B. the change in consumption divided by total disposable income. C. the change in consumption divided by the change in disposable income. D. total consumption divided by the change in disposable income.