Transaction costs are the cost of negotiating and executing an exchange
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in real GDP leads to
A) a movement upward along the demand for money curve but no shift of the curve. B) a movement downward along the demand for money curve but no shift of the curve. C) neither a shift in the demand for money curve nor a movement along the curve. D) a leftward shift in the demand for money curve. E) a rightward shift in the demand for money curve.
The economist who developed the checkerboard model of neighborhood segregation was
A) Milton Friedman. B) Thomas Schelling. C) John Nash. D) David Ricardo.
The more elastic is the demand for a product:
A. the greater the difference between marginal revenue and price. B. the closer is marginal revenue to the price. C. the more a firm must reduce its price to increase its sales. D. the less a firm must increase its sales to reduce the price.
Inflation rates over the last 40 years have generally:
A. decreased around the world. B. increased around the world. C. unchanged for developing nations and decreased for developed nations. D. decreased for developing nations and increased for developed nations.