The frequent use of credit cards and easy access to automatic teller machines have caused:
a. the demand for money to increase.
b. the money supply in the economy to decrease.
c. the price level in the economy to decrease.
d. the velocity of money to increase.
d
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Refer to the table above. The opportunity cost per dollar of value added in stitching shoes by workers in Laborland is ________
A) $0.25 B) $0.50 C) $2 D) $4
Any kind of social regulation raises the per unit cost of production of a good and hence leads to a loss of producer and consumer surplus
a. True b. False Indicate whether the statement is true or false
At a supermarket, the price of organic milk increases by 20 percent. According to the law of demand, the sale of organic milk would most likely ______.
a. decrease by 10 percent b. increase by 15 percent c. fluctuate between a 5 percent increase and a 5 percent decrease d. stay approximately the same
Which of the following had prompted the Chinese authorities to stand ready to buy or sell dollars steadily and in large volume?
A. Huge current account deficit B. Currency pegged to the dollar C. Floating rate policy D. Adherence to the old gold standard