In economics, tangible merchandise is referred to as
A) invention. B) human capital. C) goods. D) services.
C
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Tight monetary policy ________ interest rates which ________ the demand for a currency and ________ the fundamental value of the exchange rate.
A. increases; increases; decreases B. decreases; decreases; decreases C. increases; increases; increases D. increases; decreases; increases
As economists use the term, capital means
a. such things as machinery and equipment. b. such things as money and credit. c. the profits that come from hiring and using labor and natural resources. d. All of these.
Why do people hold money (currency and checking account balances), and thereby forgo earning interest or dividends from a financial investment?
a. Some money is demanded for everyday transactions like parking fees, lunch, and buying groceries. b. Some money is demanded as a precaution against unexpected costs such as automobile repairs, speeding tickets, or temporary loss of a job. c. Some money is demanded for speculative purchases of stocks, bonds, or collectibles in case they become available at a particularly low price. d. All of the above are correct.
Variable costs increase when output rises
a. True b. False Indicate whether the statement is true or false