Figure 3.4 illustrates the demand for tacos. An increase in the demand for tacos is represented by the movement from:
A. point a to point b.
B. point c to point b.
C. D2 to D1.
D. D0 to D1.
Answer: D
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Which statement most accurately describes the effect financial technology has had on the demand for money in the United States?
A) Advances in financial technology have all increased the demand for money. B) Some advances in financial technology have increased the demand for money while others have decreased it. C) It is not possible to tell what would be the effect because financial technology has not changed over the past three decades. D) Advances in financial technology have all decreased the demand for money. E) Advances in financial technology have had no effect on the demand for money.
What is the "store of value" function of money?
A. a common measurement of the relative value of different goods and services B. the ability of money to hold value over time C. the quality of money not to be hoarded because of its commodity value D. the function of money to be widely accepted I exchange for goods and services
In order to maximize utility, a consumer should allocate money income so that
A. the marginal utility obtained from the last dollar spent on each product is the same. B. the elasticity of demand on all products purchased is the same. C. the total utility derived from each product consumed is the same. D. the marginal utility of the last unit of each product consumed is greater than the total utility of each product consumed.
Which of the following is considered a limitation of monetary policy?
A. The cause-effect chain B. Its cyclical asymmetry C. Its isolation from political pressure D. The speed with which it can be implemented