The notion that the value of money is determined by the overall quantity of money in existence is known as the:
A. quantity theory of money.
B. money quantity theory.
C. price level theory.
D. level theory of prices.
A. quantity theory of money.
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A decrease in price of a certain good most likely will lead to
A. an increase in quantity demanded and an increase in the demand for that good. B. an increase in quantity demanded but no change in the demand for that good. C. an increase in demand but no change in quantity demanded. D. no change in demand and no change in quantity demanded.
In 2011, the U.S. unionization rate was:
A. 5.5 percent, down by nearly one-half of the rate in the mid-1950s. B. 14.8 percent, up by about one-fourth of the rate in the mid-1950s. C. 11.8 percent, down by more than one-half of the rate in the mid-1950s. D. 21.2 percent, down by 4 percentage points from the mid-1950s.
The age-earning cycle
A) is an earnings profile of an individual throughout his or her lifetime. B) shows the earnings differences by age and by gender. C) depicts differences in the relationship between age and earnings across countries. D) shows the average incomes of people broken down by age categories.
The long-run industry supply curve ________ in a decreasing-cost industry.
A. is vertical B. slopes down C. is horizontal D. slopes up