Consider the production function for bottled water. All of the following would be considered variable inputs except:
A) the plastic bottles.
B) the water the bottles are filled with.
C) the machine used to fill each bottle.
D) the electricity used to power the machine used to fill the bottles.
C
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Fiat money
a. has no intrinsic value. b. is backed by gold. c. is a medium of exchange but not a unit of account. d. is any close substitute for currency such as checkable deposits.
The routes or channels that ripple effects created in the money market travel to impact the goods-and-services market are known as
A) the transmission lag. B) monetary policy. C) the liquidity trap. D) the transmission mechanism.
When a production function is graphed with Real GDP on the vertical axis and labor on the horizontal axis, a rise in labor ________________________which shifts the LRAS curve ____________ resulting in ______________________
A) shifts the production function up; rightward; economic growth B) shifts the production function down; leftward; a shrinking economy C) moves us up along a given production function; rightward; economic growth D) moves us down along a given production function; leftward; a shrinking economy
Use the following graph to answer the next question. Q* = 100 Yen. 
Assume Japan and the United States are engaged in a system of flexible exchange rates. One U.S. dollar will purchase how many Japanese yen?
A. 80 B. 120 C. 140 D. 125