When you use a credit card to pay your tuition,
A) you've used the credit card as money because it is a means of payment.
B) the credit card is not money but is an ID card for an instant loan.
C) the credit card is not money because it involves an electronic transaction.
D) the credit card is not money because it is not officially issued by the government.
E) you've used the credit card as money because you received something in return.
B
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Suppose the price of movies seen at a theater rises from $12 per couple to $20 per couple. The theater manager observes that the rise in price causes attendance at a given movie to fall from 300 persons to 200 persons
What is the arc price elasticity of demand for movies? A) 0.5 B) 0.8 C) 1.0 D) 1.2
A decrease in government spending
a. increases the interest rate and so investment spending increases. b. increases the interest rate and so decreases investment spending decreases. c. decreases the interest rate and so investment spending increases. d. decreases the interest rate and so investment spending decreases.
Which of the following could not be expected to shift the aggregate demand curve?
A. net exports fall B. consumption spending decreases C. an increase in government spending D. a change in real GDP
A resource is said to have a comparative advantage if:
A. its suitability to the production of one good changes as it produces more of that good. B. it is better suited to the production of one good than to the production of an alternative good. C. it is equally suited to the production of all goods. D. its suitability to the production of one good does not change as it produces more of that good.