The equation of exchange can be written as
A) MsV = PY. B) MsP = VY.
C) MsY = VP. D) None of the above are correct.
A
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The table below shows the utility schedule for a consumer of candy bars. Candy Bars ConsumedTotal Utility001529312414515615713Marginal utility becomes negative with the consumption of the
A. sixth candy bar. B. seventh candy bar. C. fifth candy bar. D. second candy bar.
Which of the following statements is true?
A) The production possibilities curve of a nation is fixed in the long run. B) The production possibilities curve can only shift to the right. C) The production possibilities curve of an economy is concave to the origin. D) The slope of the production possibilities curve represents the ratio of the marginal cost of producing goods.
Which of the following most likely would decrease frictional unemployment?
A) an increase in the number of high school and college graduates B) effective Internet-based employment services and job registries C) an expansion of unemployment compensation benefits D) All of the above would decrease frictional unemployment.
An economy in which output has decreased and prices have decreased would suggest a:
A. decrease in short-run aggregate supply. B. increase in aggregate demand. C. increase in short-run aggregate supply. D. decrease in aggregate demand.