The statement that Computech's profits totaled $500 million last year represents the use of money as a:
a. medium of exchange.
b. store of value.
c. unit of account.
d. means of coincidence.
c
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In the figure above, U.S. consumers' ________ from the tariff is ________
A) loss; $176 million B) gain; $64 million C) loss; $80 million D) gain; $128 million
The government raises the sales tax on shirts. The tax is imposed on sellers. As a result, the ________
A) supply curve of shirts shifts leftward B) supply curve of shirts shifts rightward C) demand curve for shirts becomes vertical D) demand curve for shirts becomes horizontal
Rent seeking is a way of earning profit without adding to the product’s value.
Answer the following statement true (T) or false (F)
Assuming all else equal, what is likely to happen to the demand curve for reserves in an economy if it goes through a period of rapid expansion?
A) There will be a n upward movement along the demand curve for reserves. B) The demand curve for reserves will shift to the left. C) There will be a downward movement along the demand curve for reserves. D) The demand curve for reserves will shift to the right.