Ceveryday expenses is:
A. irrational, since money is fungible.
B. rational, since Buddy can now pay all his bills with a small credit card payment each month.
C. going to make Buddy wealthier in the long run.
D. rational, since he has his new computer and has money in the bank.
A. irrational, since money is fungible.
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The circular flow diagram is best described as a(n)
A. abstraction of little value in macroeconomics. B. exact representation of the cause and effect relationship between spending and employment. C. model that clarifies the relationship between spending and income. D. model to explain the relationship between the federal deficit and tax revenues.
The demand for money is a downward sloping line that depicts the relationship between the price level and the opportunity cost of holding money
a. True b. False Indicate whether the statement is true or false
A decrease in the price of oil will cause the:
A. short-run aggregate supply curve to shift to the right. B. aggregate demand curve to shift to the right. C. short-run aggregate supply curve to shift to the left. D. long-run aggregate supply curve to shift to the left.
Savings deposits are ________ the M1 measure of money and ________ the M2 measure of money.
A. included in; included in B. excluded from; included in C. included in; excluded from D. excluded from; excluded from