Refer to the information provided in Figure 1.5 below to answer the question(s) that follow.
Figure 1.5Refer to Figure 1.5. Panel B shows a curve with a slope that is
A. negative and decreasing.
B. positive and decreasing.
C. negative and increasing.
D. positive and increasing.
Answer: B
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Decreases in the value of existing assets are called:
A. capital losses. B. investment. C. capital gains. D. saving.
The costs of inflation to households and firms due to holding less money and making more frequent trips to the bank are known as
A) seigniorage. B) menu costs. C) velocity costs. D) shoe-leather costs.
Which of the following statements is correct?
a. Interest would not exist in a nonmonetary economy. b. The present value of a future dollar payment is inversely related to both the interest rate and to how far in the future the payment will be received. c. A "positive rate of time preference" means that an individual would rather save than consume. d. During an extended inflationary period, the money (or nominal) interest rate will usually be lower than the real rate of interest.
The theory of the communists could be summed up in a single phrase: ______________________________.
Fill in the blank(s) with the appropriate word(s).