Economists equate money with
a. individual wealth.
b. income regularly earned.
c. assets people use regularly to buy goods and services.
d. individual saving.
c
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The amount of upfront training employers have to provide varies directly with unemployment rates
Indicate whether the statement is true or false
In this graph, which of the following is assumed to be changing?
a. autonomous consumption
b. investment
c. government purchases
d. the price index
The marginal revenue curve for a perfectly competitive firm is
A. upward sloping. B. vertical. C. horizontal. D. downward sloping.
Which of the following would not explain why the aggregate demand curve slopes downward?
a) A higher price level increases real wealth, which stimulates spending on consumption. b) A lower price level reduces the interest rate, which encourages greater spending on investment goods. c) A lower price level causes U.S. interest rates to fall, the real value of the dollar to decline in foreign exchange markets, and U.S. net exports to rise. d) A higher price level lowers the real value of money and makes consumers poorer, which in turn encourages them to spend less.