Which statement is false?
A. Barter is the alternative to money in the United States.
B. Barter involves a double coincidence of wants.
C. M2 is larger than M1.
D. Checks are considered money.
D. Checks are considered money.
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We cannot predict the effect on the market clearing price, but know that the equilibrium quantity will decrease when
A) supply increases and demand decreases B) supply decreases and demand increases. C) supply and demand for a product simultaneously decrease. D) supply and demand for a product simultaneously increase.
Automatic stabilizers are
A) provisions that cause changes in government spending and taxes without new action by Congress or the President. B) policies set by certain committees in Congress. C) tools used by the President's Council of Economic Advisers. D) provisions that cause the aggregate supply curve to be upward sloping.
Refer to the above graphs. A price increase from $20 to $40 causes quantity demanded to decrease from 100 units to 50 units. Which graph best illustrates the price elasticity of demand for this good?
A. Graph A B. Graph B C. Graph C D. Graph D
In long-run macroeconomics equilibrium...
What will be an ideal response?