What is the nominal value of money?
A) its actual face value
B) what can be purchased with the money
C) discounts taken by multiple purchases
D) savings by shopping on specific days of the week
A
You might also like to view...
If productive efficiency characterizes a market
A) the marginal cost of production is minimized. B) the output is being produced at the lowest possible cost. C) firms use the best technology available to produce the good. D) firms produce the goods that consumers desire most.
Suppose that Year 1 is the base year. Year 2 real GDP is
A) $200. B) $270. C) $310. D) $390.
The tyranny of collateral ________
A) suggests that government tax rates are too high in the United States B) gives rise to the twin problems of moral hazard and adverse selection C) implies that when a poor person has a good idea they find it difficult to acquire financing D) attributes moral hazard to excessive government regulation
The demand for a particular brand of automobile is likely to be more inelastic than the demand for automobiles in general
a. True b. False