Which of the following is money?
A. A debit card
B. A credit card
C. Traveler's checks
D. A check
C. Traveler's checks
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How do you suppose most people form an expectation of future inflation? Is that method consistent with the assumption of adaptive expectations?
What will be an ideal response?
Rent controls often have adverse effects, including
A) too much housing in a community. B) deterioration in the quality of existing rental units. C) too much construction of new rental units in the community. D) income transfers from the poor to landlords.
For a firm in a perfectly competitive industry, the demand curve for its own product is
A. upward sloping. B. downward sloping. C. horizontal. D. vertical.
Refer to Figure 15-4. What is the profit-maximizing/loss-minimizing output level?
A) 600 units B) 800 units C) 940 units D) 1,160 units