The set of items that serve as media of exchange clearly includes
a. demand deposits.
b. short-term bonds.
c. credit cards.
d. All of the above are correct.
a
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Individuals who have stopped looking for work after an active search because of the lack of transportation or lack of affordable child care, etc. are classified as ________ workers
A) very lazy B) marginally attached C) nonfunctional D) non-contributing
In the United States since 1970, the quantity of M1 money people hold as a percentage of GDP has
A) decreased. B) remained constant. C) decreased at first and then increased. D) increased at first and the decreased. E) increased.
Which of the following is part of the cost of income transfers?
A) Tax-collecting agencies cost money to administer. B) Taxing incomes encourages people to work harder. C) Income transfers make the results more unfair. D) Income transfers increase the size of the economic pie. E) Income transfers are a similar to allocating resources using a lottery.
The law of demand (downward-sloping demand curve)is based on the idea of
a. maximum total utility b. minimum marginal utility c. total utility divided by quantity of the good consumed d. law of diminishing marginal utility e. consumers minimize total utility