Money as a medium of exchange I. Facilitates the exchange of goods II. Reduces the incentive to barter
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Answer: C. Both I and II
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An affordable housing law will affect a city's housing prices only if:
a. the demand for houses in the city is downward sloping. b. the demand for houses in the city is almost horizontal. c. the demand for houses in the city is almost vertical. d. the demand for houses in the city is backward bending.
The market demand curve represents the total quantity demanded at each price.
Answer the following statement true (T) or false (F)
As people buy more and more of a service, their consumer surplus
A. increases. B. decreases. C. falls to zero. D. becomes negative.
With the internationalization of our economy, the Federal Reserve has had a much more difficult time conducting monetary policy because of _________________.
Fill in the blank(s) with the appropriate word(s).