The demand for money curve shows that there is an inverse relationship between the quantity of money demanded and the:
A. quantity of money supplied.
B. gross domestic product (GDP).
C. price level.
D. interest rate.
Answer: D
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Which of the following individuals is NOT counted as unemployed?
A) Jackie, who was recently fired and is now applying for another job B) Jennifer, who just graduated from college and is now seeking employment with the company of her dreams. C) Jamil, who recently quit his job and is looking for a new position D) Jack, who has become discouraged about ever finding a job and has stopped looking
According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________
A) increased; right B) increased; left C) decreased; left D) decreased; right
Refer to Table 18-8. The tax system is
A) regressive throughout all levels of income. B) progressive throughout all levels of income. C) progressive between $10,000 and $12,000 of income and regressive between $12,000 and $22,000. D) proportional throughout all levels of income.
Assume that an industry requires a very specialized technology that involves high start-up costs for new firms no matter what level of output they produce. In the long run, at low levels of output, these firms will tend to exhibit
a. diminishing marginal returns b. increasing marginal returns c. diseconomies of scale d. constant returns to scale e. economies of scale