The value and cost of goods are easiest to determine when the goods are
a. private goods.
b. public goods.
c. common resources.
d. club goods.
a
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"Since checking accounts now pay interest they should not be included in the money supply." Given that checks are the major medium of exchange, this statement is false because
A) checking accounts are primarily used for savings in the current year. B) the interest rate on checking accounts is lower than on other accounts. C) the demand for real balances is negatively related to interest rates. D) money is money.
Among these countries, which has the highest hourly wage and fringe benefits in manufacturing?
A. Germany B. Japan C. The U.S. D. Canada
“Men are disposed, as a rule, and on the average, to increase their consumption as their income increases, but not by as much as the increase in their incomes.” Which of the following is consistent with this statement by J.M. Keynes?
A. The slope of the consumption function is positive and less than 1. B. The slope of the consumption function is greater than that of the 45-degree line. C. The slope of the consumption function is negative. D. The slope of the consumption function is equal to 1.