A scalper reselling Super Bowl tickets is an example of money being used as:
a. a store of value.
b. a unit of account.
c. an illegal asset.
d. a standard of deferred payment.
e. a medium of exchange.
e
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A credit-rationed household is more likely to immediately ________ of a one-time tax rebate than is a household that is not credit rationed
A) spend a larger portion B) spend a smaller portion C) save a larger portion D) spend none
If a demand curve shifts, we know that
A) the price of the good itself is not a factor. B) the price of the good itself is a factor. C) the price of the good and supply are the major factors. D) the price of the good and demand are major factors.
A point outside a production possibilities curve indicates
A) that resources are not being used efficiently. B) that resources are being used very efficiently. C) opportunity costs are constant. D) an output combination that is unobtainable with the current resource and technology levels.
If we consider age distribution, institutional factors, and in-kind transfer programs, income distribution is likely considerably more unequal than it appears from measured income
a. True b. False Indicate whether the statement is true or false