Which of these transactions results in an increase in M1?
A) withdrawal of $100 cash from your checking account
B) certificate of deposit matures, adding $520 to your checking account
C) depositing a bank loan of $400 into your savings account
D) depositing a $300 paycheck into your savings account
E) none of the above
B
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Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting
A) 1/12 of a snowboard. B) 1/8 of a snowboard. C) 1/3 of a snowboard. D) 3 snowboards.
Discounting is the process whereby
A) present values are adjusted to their future value, using the interest rate. B) future values are converted to their value today, using the interest rate. C) product prices are reduced (discounted) to increase sales and profits today. D) future values are adjusted for inflation.
Suppose the economy is initially in long-run equilibrium and then it experiences a supply shock in the form of sharply higher energy prices. Which of the following is true?
a. The short-run aggregate supply curve shifts leftward and the long-run supply curve shifts rightward. b. The short-run aggregate supply curve shifts rightward and there is a movement along the aggregate demand curve. c. The short-run aggregate supply curve does not shift and the long-run aggregate supply curve shifts rightward. d. The short-run aggregate supply curve shifts rightward but the long-run aggregate supply curve does not shift. e. The short-run aggregate supply curve shifts leftward and there is a movement along the aggregate demand curve.
Someone who is not employed and is not looking for work is classified in the household survey as
A. unemployed. B. not in the population. C. not in the labor force. D. on welfare.