Cashing out capital gains in Virtual Currency System #3 (i.e., turning virtual capital gains into real world currencies) causes the nation's:
a. Monetary base to rise.
b. M2 money supply to rise.
c. M2 money supply to remain the same.
d. M2 money supply to fall.
.C
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When the price level increases, aggregate planned expenditure decreases, which leads to
A) a rightward shift of the aggregate demand curve. B) neither a movement along nor a shift of the aggregate demand curve. C) a downward movement along the aggregate demand curve. D) an upward movement along the aggregate demand curve. E) a leftward shift of the aggregate demand curve.
In 1995, the Boskin commission identified which of the following problems with the computation of the CPI?
A) it does not account for the fact that consumers can substitute away from products as they get more expensive B) an increase in price could be the result of quality improvements rather than an increase in the cost of living C) it often does not reflect decreases in the cost of living that occur when new goods are introduced D) all of the above E) none of the above
The supply of labor in the classical system is a function of the
a. marginal product of labor. b. real wage. c. the public's preference for leisure. d. money wage. e. b and c
Which of the following are taxpayers not allowed to deduct from taxable income?
a. state income taxes b. local income taxes c. property taxes d. interest on auto loans