As long as wage increases do not exceed labor productivity growth rates, a stable price level should be the result
Indicate whether the statement is true or false
true
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Higher nominal interest rates ________ the amount of money demanded and a higher price level ________ the amount of money demanded.
A. increase; decreases B. increase; increases C. decrease; decreases D. decrease; increases
The functions of money are
A) medium of exchange, unit of account, and store of value. B) medium of exchange, the ability to buy goods and services, and the ability to pay off debts. C) medium of exchange, the ability to buy goods and services, and checking accounts. D) credit cards, checking accounts, currency, and coins. E) store of value, use as a barter mechanism, and unit of account.
The market value of all final goods and services produced in a nation during a particular period is called the: a. gross domestic product. b. net national product
c. national income. d. gross national product. e. gross world product.
Along which of these segments of the supply curve is supply most elastic?
a. AB b. CD c. DH d. GH