Close substitutes for transactions money are known as
A. commodity monies.
B. token monies.
C. near monies.
D. fiat monies.
Answer: C
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According to the classical economists,
A. the interest rate will ensure that the amount households plan to save will equal the amount businesses desire to invest. B. the amount households plan to save is determined primarily by their wage. C. increasing government spending is the most reliable method of restoring full employment. D. unemployment is caused by too little spending.
Jessica makes photo frames. She spends $5 on the materials for each photo frame. She can create one photo frame in an hour. She earns $10 per hour at a part-time job at the local coffee shop. She can sell a photo frame for $30 each. An accountant would calculate the total cost for one photo frame to be
a. $5. b. $10. c. $15. d. $25.
If personal income taxes are increased, disposable income and consumption
A. increase. B. stay the same. C. decrease. D. change in an unpredictable direction.
If the marginal propensity to consume (MPC) is less than 1 and a household's disposable income increases by $2,000, the household's consumption will _____
Fill in the blank(s) with the appropriate word(s).