Money is a more efficient store of value than wheat, especially when there is not rapid inflation
a. True
b. False
Indicate whether the statement is true or false
True
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A change in the price of a good
A) shifts the good's demand curve and also causes a movement along it. B) shifts the good's demand curve but does not cause a movement along it. C) does not shift the good's demand curve but does cause a movement along it. D) neither shifts the good's demand curve nor causes a movement along it.
An increase in the output gap causes the demand for real balances
A) to rise and the interest rate to fall. B) to fall and the interest rate to rise. C) and the interest rate to fall. D) and the interest rate to rise.
When World War II (1941–45) came,
(a) the labor force expanded by very little despite the high unemployment of 1941. (b) unemployment was still high enough that the armed forces could be expanded and war production expanded without a large increase in the labor force. (c) a large increase in the labor force occurred in all categories, including men over 65 and women. (d) none of the above occurred.
What characteristic defines something as money?
A) assets declared by the government to be of value B) a medium of exchange widely accepted in an economy C) notes you can deposit in a savings account D) an asset that earns interest