If we wanted to consider all the money that had been "multiplied" in the economy, we would think about:
A. hard money.
B. M1.
C. M2.
D. None of these.
C. M2.
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If more people buy hybrid cars that have high gas mileage, the equilibrium price of gasoline will ________ and the equilibrium quantity will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
The price elasticity of demand for a specific model of a luxury car is likely to be
A) elastic. B) inelastic. C) 0. D) infinite.
The part of the balance of payments that records purchases of assets a country has made abroad and foreign purchases of assets in the country is the
A) capital account. B) current account. C) financial account. D) statistical discrepancy account.
Wants are
A) another term for needs. B) the things people would consume if they had unlimited incomes. C) the things people consume with their income. D) all the things people really need in order to live comfortably.