All of the following are necessary criteria for a commodity to function as money EXCEPT
A) it must deteriorate quickly.
B) it must be divisible.
C) it must be easy to carry.
D) it must be widely accepted.
A
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Sabrina is a college professor in Houston, Texas who earns a salary of $95,000. She is single, just put down $25,000 on a new townhouse, and has no children. Explain if Sabrina has any way of reducing her payroll taxes or her personal income tax
What will be an ideal response?
According to the authors of your text, a politician's interest in getting reelected
A) expands the politician's time horizon. B) leads the politician to concentrate on policies capable of generating short-run benefits. C) further encourages the politician to conform more to acting in the public interest. D) is based chiefly on selfish interest.
If a worker is temporarily laid off because the economy is in a recession, frictional unemployment increases
Indicate whether the statement is true or false
We cannot predict the effect on the market clearing price, but know that the equilibrium quantity will decrease when
A) supply increases and demand decreases B) supply decreases and demand increases. C) supply and demand for a product simultaneously decrease. D) supply and demand for a product simultaneously increase.