Which of the following properties must a good have to be used as money?
A) It should be a durable good.
B) It should be issued by a government of central bank.
C) It should have intrinsic value.
D) It should be shiny.
A
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How are the following events likely to affect the market supply of rice in an economy?
a) A fall in the wage rate of farm labor b) An increase in the productivity of farm capital due to better technology c) An increase in the use of agricultural land for non-agricultural purposes
A bank can lend out its excess reserves but not its required reserves
a. True b. False Indicate whether the statement is true or false
Goodspeed Automobiles manufactures 100 disc brake cylinders. At this output level, its marginal revenue is equal to its marginal cost. If the revenue per unit of output is $500 and the per unit cost is $350, its profit is:
a. $20,000. b. $15,000. c. $45,000. d. $25,000. e. $10,000.
The poverty line is
A. the percentage of households with income insufficient to provide an adequate standard of living. B. that level of income just sufficient to provide a family with a minimally adequate standard of living. C. the amount of money the poor earn from work. D. the amount of money that would have to be transferred to poor households to lift them out of poverty.