Using current exchange rates, the U.S. standard of living is ranked
A) higher than it would be under the purchasing power parity method.
B) lower than it would be under the purchasing power parity method.
C) number one in the world.
D) among the lowest in the world.
E) none of the above
B
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The degree to which an asset can be acquired or disposed of without much danger of any intervening loss in nominal value is known as
A) transaction deposits. B) a time deposit. C) liquidity. D) M2.
Which statement is FALSE?
A. A demand curve slopes downward to the right. B. Moving down along a demand curve, price falls and quantity rises. C. Moving up a demand curve, price rises and quantity rises. D. A demand curve shows an inverse relationship between price and quantity.
If we assume that velocity is constant, and if the money supply increases by 5 percent, we would expect, ceteris paribus, that the price level would
A. increase by 5 percent. B. decrease by 5 percent. C. increase by 1 percent. D. decrease by 1 percent.
The law of diminishing marginal utility is consistent with the consumer behavior that produces a negatively sloped demand curve.
Answer the following statement true (T) or false (F)