Suppose you use your debit card to buy soda from a soda machine. Which of the following is true regarding the transaction?
A) The debit card is not money; it's only an instruction to make a loan.
B) The debit card is money; your use reflects the exchange of a good.
C) The debit card is not money; its use is only a tool to cause money to move from your account.
D) Your use makes the debit card money, as funds are transferred between your account and the machine owner.
E) Using the debit card is like using a check and is, therefore, money.
C
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In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Short-run equilibrium output in this economy equals:
A. 1,280. B. 1,000. C. 1,160. D. 1,440.
The pay differential between Walmart and unionized grocery stores is around
A. $5 per hour. B. $1 per hour. C. $ 15 per hour. D. $8 per hour.
If a firm produces components of its goods and services in other countries, it is said to be outsourcing
Indicate whether the statement is true or false
The broadest measure of the aggregate price level is the
a. GDP deflator. b. consumer price index. c. producer price index. d. gross domestic product.