How would a widespread adoption of credit cards affect the demand for money and the demand for money curve?
What will be an ideal response?
The widespread adoption of credit cards decreases the demand for money and shifts the demand for money curve leftward.
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The amount of revenues that sellers actually receive over and above the minimum acceptable amount that they are willing to receive for selling a product is called
A. production costs. B. producers' supply. C. consumer surplus. D. producer surplus.
Suppose that when the price of hamburgers decreases, the Ruiz family increases their purchases of ketchup. To the Ruiz family
A) hamburgers and ketchup and substitutes. B) hamburgers and ketchup are normal goods. C) hamburgers are normal goods and ketchup is an inferior good. D) hamburgers and ketchup are complements.
You are shopping at the local mall with an $80 gift certificate. Only three items catch your attention. The items include a Justin Bieber sheet set, a remote control helicopter, and an "Amazing Ab Belt." You would be willing to give up $60 for the sheets, $70 for the belt, and $80 for the helicopter. Knowing this, you decide to purchase the helicopter. The opportunity cost of the helicopter was:
A. $130, the combined value of the alternatives forgone. B. $80, the amount of the gift certificate spent. C. $70, the value of the ab belt. D. $60, the value of the sheets.
One of the most controversial public policy issues in recent decades is the size and growth of the U.S. budget deficit and public debt. Discuss where we are, compared to other countries, and how we got here