Finding two parties who both have something the other party wishes to trade for is called a
A. unit of account.
B. double coincidence of wants.
C. medium of exchange.
D. store of value.
Answer: B
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Economists would largely motivate employees by appealing to their
A) compensation. B) need for time off. C) intrinsic motivation. D) none of these choices.
What happens to the labor supply curves in both countries when Mexican workers leave Mexico and move to the United States?
a. Labor supply decreases in Mexico and decreases in the United States. b. Labor supply increases in the United States and increases in Mexico. c. Labor supply increases in the United States and decreases in Mexico. d. Labor supply increases in Mexico and decreases in United States.
The reserve ratio is 20 percent. The Fed buys $1 million in government securities from a bond dealer by transmitting the funds to the dealer's deposit account at Bank A. Bank A makes the maximum loan possible to a construction company, which buys materials with the loan. The check is deposited in Bank B, which loans out all it can to a car dealership. To this point, the money supply has increased by
A. $3 million. B. $1 million. C. $1.8 million. D. $2.44 million.
Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test:
a. equals zero. b. is greater than the marginal cost of the test c. is lower than the marginal cost of an additional test d. equals the marginal cost of the test e. both a and b.