Economic values that are measured in units per period of time are referred to as:
a. stocks.
b. flows.
c. unit values.
d. dollars.
b
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The demand curve for euros shows
a. a direct relationship between the dollar price of a euro and the quantity of euros demanded b. an inverse relation between the dollar price of a euro and the quantity of euros demanded c. that the higher the dollar price of a euro, the greater the quantity demanded d. that the more expensive it is to buy euros, the larger the quantity of European goods demanded by Americans e. that the dollar price of the euro is being held fixed by the European Union
In order for currency to be widely used as a medium of exchange, it is sufficient for the government to designate it as legal tender
a. True b. False Indicate whether the statement is true or false
Compute the value of the simple spending multiplier if the marginal propensity to consume (MPC) is 0.80
a. 8 b. 5 c. 2 d. 0.80
We use the term expansionary fiscal policy when the overall effect of decisions about taxation and spending is to:
A. increase aggregate demand. B. decrease aggregate supply. C. increase aggregate supply. D. decrease aggregate demand.