The fact that some people are willing to take a pay cut to be able to work from home suggests that:
A. some people get benefits called "psychic income" from working conditions they like.
B. when it comes to work, people often are not rational.
C. people have no choice but to work at home.
D. people are being paid efficiency wages when they aren't working at home.
Answer: A
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Which of the following statements about the real interest rate is not correct?
a. The real interest rate includes the expected inflation rate. b. The real interest rate represents the society's time value of money. c. The real interest rate is determined by the forces of supply and demand. d. The real interest rate remains the same as a nation's average expected inflation rate rises. e. All the above are false.
In a barter economy,
A) money is a medium of exchange. B) coins are used to facilitate trade. C) money is a store of value. D) goods and services are traded directly for each other. E) the money supply consists entirely of coins and currency.
An exchange rate that has an officially fixed value less than than its fundamental or market equilibrium value is called a(n) ________ exchange rate.
A. devalued B. undervalued C. depreciated D. overvalued
An increase in the required reserve ratio by the Federal Reserve would:
A. cause M1 to contract. B. cause M1 to expand. C. have no effect on M1 or M2. D. affect only M2, not M1.