Which one of the following is NOT money?
A. A NOW account
B. A debit account
C. A two-dollar bill
D. Traveler's checks
B. A debit account
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Suppose Renee can increase her total utility from consuming video rentals and books by buying one more book and renting one fewer video. Which of the following is true?
A) The marginal utility of video rentals is negative. B) The marginal utility of the last book consumed exceeds the marginal utility of the last video rental consumed. C) The marginal utility of the last video rental consumed exceeds the marginal utility of the last book consumed. D) The marginal utility per dollar spent on books exceeds that of video rentals.
Which of the following is an example of a monetary policy?
A) The federal government increases income tax rates on people earning more than $250,000. B) The duration of unemployment benefits is extended to 99 weeks. C) The Federal Reserve increases interest rates. D) Congress authorizes a cut in spending on education.
A portfolio’s performance is its yield to the holder.
Answer the following statement true (T) or false (F)
Which of the following is an argument against trying to use policy to stabilize the economy?
a. Recessions represent a waste of resources. b. Pessimism on the part of households and firms may become a self-fulfilling prophecy. c. "Leaning against the wind" requires policymakers to increase aggregate demand in recessions and reduce aggregate demand in booms. d. Macroeconomic forecasting is not developed sufficiently to allow policymakers to change aggregate demand at the proper time.