When money serves as a store of value, it allows you to
A. transfer wealth into the future.
B. be an effective negotiator.
C. find good bargains.
D. eliminate a double coincidence of wants.
Answer: A
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Since the mid-1970s, compared to the United States, European unemployment rates are/is
A. higher. B. much lower. C. about the same as in the United States. D. not compared to the United States, because there are no unemployed in Europe
The Federal Reserve System performs many functions but its most important one is
A. providing for check clearing and collection. B. acting as fiscal agent for the U.S. government. C. issuing currency. D. controlling the money supply.
A decrease in monetary base ________ the quantity of money, the interest rate ________, and the quantity of money demanded ________
A) decreases; falls; decreases B) decreases; falls; increases C) decreases; rises; increases D) decreases; rises; decreases E) increases; falls; decreases
If expectations are formed rationally and wages are inflexible in the short run, the short-run aggregate supply curve is
A) upward sloping. B) horizontal. C) vertical. D) relatively flat.