Suppose you found Eurodollars in a public park and reported it to the police. After 10 days, the police called to say that no one claimed those Eurodollars. They're now yours. The police have never seen Eurodollars before and ask: "What are these things?" You tell them it's money. "What kind of money?" they ask. You reply
a. M1 money
b. M2 money
c. specie
d. near money
e. asset money
C
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When compared to a perfectly competitive industry, in a monopoly:
A) both consumer surplus and social surplus are larger. B) consumer surplus is lower but social surplus is larger. C) both consumer surplus and social surplus are smaller. D) consumer surplus is higher but social surplus is smaller.
A depreciation of the U.S. dollar would shift the:
A) aggregate demand curve rightward. B) aggregate demand curve leftward. C) aggregate supply curve rightward. D) aggregate supply curve leftward.
There is no trade-off between efficiency and equality.
Answer the following statement true (T) or false (F)
Collective bargaining agreements that prohibit wage cuts for the duration of the contract contribute to:
A. an increase in aggregate supply. B. a price level that is inflexible downward. C. a multiplier effect. D. a wealth effect.