What characteristic defines something as money?
A. an asset that earns interest
B. a medium of exchange widely accepted in an economy
C. notes you can deposit in a savings account
D. assets declared by the government to be of value
Answer: B
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________ marginal costs of production would tend to ________ a good's ________
A) Higher; increase; supply curve B) Lower; increase; supply curve C) Lower; decrease; supply curve D) lower; increase; demand curve
Is there any case for legalizing drugs?
What will be an ideal response?
When the Fed embarked on a policy known as quantitative easing, they
A) slowly lowered the federal funds rate target until it was equal to zero. B) reduced the required reserve ratio by one-quarter point per month for 12 months. C) bought longer-term securities than are usually bought in open market operations. D) opened up lending to primary dealers, commercial banks, and investment banks.
At equilibrium, deadweight loss is zero.
Answer the following statement true (T) or false (F)