When people shop more frequently and transfer money out of their bank account more often in an effort to help avoid the loss in purchasing power of cash, they bear the _____ costs of inflation
a. menu
b. shoe-leather
c. unit-of-account
d. direct
b
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Which of the following is true of net taxes? a. The level of net taxes varies directly with the level of transfer payments. b. The level of net taxes varies inversely with the level of transfer payments. c. Net taxes must always be less than zero
d. Net taxes increase when income tax rates are reduced. e. Net taxes increase when income decreases.
Briefly explain what economists mean when they refer to the stock market as a random walk.
What will be an ideal response?
Refer to the table below. What is the equilibrium price and quantity in this market?
The following table gives data for the market for a product.
A. $6 and 60, respectively
B. $5 and 30, respectively
C. $3 and 30, respectively
D. $30 and 3, respectively
Which of the following is likely cause a decrease in the demand for credit?
A) increases in national income B) decreases in concerns about future economic performance C) decreases in the scale of production D) increases in the scale of production