The primary benefit of a monetary system of exchange compared to a barter system is the increased
a. ability to record transactions.
b. time necessary to find trading partners.
c. time devoted to shopping.
d. efficiency in arranging transactions.
d
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Moderate exercise is better than none, but excessive exercise is harmful. What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?
a. a positively sloped straight line b. a negatively sloped straight line c. a vertical straight line d. a U-shaped curve e. a hill-shaped curve
Which of the following is a primary cause of exchange rate movements in the short run?
a. Changes in relative interest rates. b. Changes in expectations of future exchange rates. c. Changes in relative prices. d. Changes in economic conditions such as relative GDPs. e. None of the above.
Which is the most accurate statement?
A. Unions are much more powerful today than they were 35 years ago. B. Unions are more powerful in the South than in any other section of the country. C. Nearly half of all American wage earners are members of unions. D. Union membership as a percentage of the labor force has been falling since the mid-1950s.
Refer to the table shown, which shows the demand schedule for a firm that has a monopoly on the sale of computers in the country of Oz. If the marginal cost of producing computers is $1,000 no matter how many are produced and the monopolist seeks to maximize profit, it should set the price of computers at:Price of computers($)Quantity demanded per year5,0001004,0002003,0003002,0004001,000500
A. $2,000. B. $4,000. C. $3,000. D. $1,000.