Any item that people can use to transfer purchasing power from the present to the future is called
a. a medium of exchange.
b. a unit of account.
c. a store of value.
d. None of the above is correct.
c
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Public goods are not normally characterized by the following:
a. externalities b. market provision c. the free rider problem d. non-exclusion e. all the above characterize public goods
When a binding price floor is imposed on a market to benefit sellers, a. no sellers actually benefit
b. some sellers benefit, but no sellers are harmed. c. some sellers benefit, and some sellers are harmed. d. all sellers benefit.
Which of the following could cause a decrease in labor supply?
a. An increased preference for working in the labor market b. An increase in the number of two-family households c. An increased preference for enjoying leisure time d. A trend toward less schooling and toward earlier entrance into the labor market e. An increase in the retirement age
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency remains the same. b. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency rises. c. The quantity of real loanable funds per time period rises, and nominal value of the domestic currency falls. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The quantity of real loanable funds per time period falls, and nominal value of the domestic currency rises.