Which of the following is not a form of money?
a. checkable deposits
b. travelers' checks
c. currency
d. credit cards
d
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The marginal revenue product schedule is
A. the firm's resource demand schedule. B. the firm's resource supply schedule. C. the same whether the firm is selling in a purely competitive or imperfectly competitive market. D. upsloping.
In labor markets, the substitution effect occurs when
A. a change in the price of a substitute input reduces the cost of capital. B. a substitute good also functions as a complement. C. the cost of production falls enough that the firm will produce a larger amount of output. D. a change in the price of a substitute input causes the demand for labor to change in the same direction.
From 1970 to 1998 the U.S. dollar
a. gained value compared to the German mark because inflation was higher in the U.S. b. gained value compared to the German mark because inflation was lower in the U.S. c. lost value compared to the German mark because inflation was higher in the U.S. d. lost value compared to the German mark because inflation was lower in the U.S.
In contrast to the post–World War II period, before 1940 the government
A. actively intervened in the economy for stabilization purposes. B. used aggregate demand management to avoid recessions. C. rarely intervened in the economy to influence inflation or unemployment rates. D. used government ownership to guarantee full employment.