When comparing the price of a tablet with the price of a laptop, Amanda discovered the tablet was more expensive. This is an example of using money as
A) a store of value.
B) a medium of exchange.
C) a unit of accounting.
D) a standard of deferred payment.
C
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Andy views beer and pizza as complements to one another. If the price of pizza decreases, economists would expect: a. Andy's demand for pizza to increase
b. Andy's demand for pizza to decrease. c. Andy's quantity of pizza demanded to decrease. d. Andy's demand for beer to increase.
Corrective taxes are generally more efficient than regulatory mandates keeping the environment clean
a. True b. False Indicate whether the statement is true or false
When a tax is imposed on the buyers of a good, the demand curve shifts
a. upward by the amount of the tax. b. downward by the amount of the tax. c. upward by less than the amount of the tax. d. downward by less than the amount of the tax.
Figure 9-1
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In Figure 9-1, at $7,000 billion real GDP,
A. inventories are increasing. B. spending falls short of output. C. spending exceeds output. D. inventories are falling.