If you use a check to pay your monthly rent,
A) the check is considered money because you received something in return.
B) the check is not money because it is just an instruction to your bank to make a payment.
C) you have used money because the landlord accepted it as a means of payment.
D) the check becomes money when it arrives at the landlord's bank.
E) the check is not money because it is not part of M1.
B
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Which of the following is not considered as a unilateral transfer?
a. income earned from foreign investments b. foreign aid c. personal gifts to friends or family abroad d. institutional charitable donations e. government transfers to foreign residents
Albert, Betty, Christine and David are all very good students. When they hold their study sessions, they often discuss very difficult concepts in great detail. Christine's roommate, Elizabeth, who takes completely different classes, still learns from the discussions of the others. This is the case of a(n) ____, which ____ a ____
a. public good; benefits; third party b. externality; imposes a cost on; free rider c. market failure; results from; third party d. free rider; benefits from; third party e. Externalities; benefits; third party
Suppose an increase in investment spending results in an increase in equilibrium real GDP and a rise in the equilibrium price level. This implies that the aggregate supply curve for this economy is vertical
a. True b. False Indicate whether the statement is true or false
Equilibrium is the point where total spending equals total output, or GDP
a. True b. False Indicate whether the statement is true or false