Eurozone countries:
a. have no separate legal tender.
b. are pegged to the euro.
c. are pegged to the dollar.
d. are fixed against a single currency
Ans: a. have no separate legal tender.
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Answer the following statements true (T) or false (F)
If the marginal propensity to save is 0.4, the multiplier is 2.5. Money will fail to serve as a medium of exchange if it ceases to be a store of value. Aggregate expenditure includes consumption spending, unplanned investment spending, government purchases, and net exports. When Jack's income increases by $1,000, he spends an additional $850 dollars. This implies that his marginal propensity to consume is 0.85. When the dollar becomes stronger compared to the Japanese Yen, then the Japanese imports from the U.S. will increase.
The 2012 box office receipts for the movie The Avengers were $1,515.8 million. By way of comparison, the 1977 receipts for Star Wars were $798.0 million. If the Consumer Price Index was 60.6 in 1977 and 229.6 in 2012, which of the following is true?
a. The real receipts of The Avengers were almost four times greater than those for Star Wars. b. The real receipts of Star Wars were nearly two times greater than those for The Avengers. c. The real receipts of The Avengers were one-third of those for Star Wars. d. The real receipts of Star Wars were about 33 percent greater than those for The Avengers.
Bernoulli called the ____________ moral value
Fill in the blank(s) with the appropriate word(s).
If prices rise, then persons living on fixed incomes will
A. see their real incomes rising. B. see the purchasing power of their dollars go further. C. need to spend more to maintain their standard of living. D. see the value of their savings accounts increase.