Which of the following would be included in a person's life-cycle wealth?
a. savings account
b. refrigerator
c. stock in a corporation
d. government savings bonds
e. income
B
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The monetary policy (MP) curve indicates the relationship between
A) the Federal Funds Rate and the real interest rate. B) the Federal Funds Rate and the inflation rate. C) the inflation rate and the expected inflation rate. D) the real interest rate the central bank sets and the inflation rate.
Which of the following is not true about a production possibilities curve? It indicates
a. what combinations are attainable and unattainable b. efficient combinations of the goods produced c. which combinations are inefficient d. which combinations of goods and services can be produced e. the actual combination produced
Which of the following is an example of commodity money?
a. Rare baseball cards b. Euros c. Stocks d. The gold standard
Suppose the first hour of study today will allow you to answer 10 correct questions in tomorrow's exam. After the first hour, the marginal benefit of each additional hour of study is reduced by 2 (meaning if you study 2 hours today your total number of correct responses tomorrow will be 18 and if you study 3 hours it will be 24 and so on). If the costs of studying each additional hour are zero, how many hours you should study?
A. 0 B. 6 C. 10 D. 18