Hard money:
A. is the least narrow definition of money.
B. includes cash.
C. cannot always be used in transactions immediately, but is accessible.
D. is not very liquid.
B. includes cash.
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Explain the principal-agent problem as it pertains to equity contracts
What will be an ideal response?
The marginal product of labor is always ________ and it ________ as the labor stock increases
A) positive; increases B) positive; decreases C) negative; increases D) negative; decreases
In a dictator game, player A must divide $100 between player A and player B. In this game, player B does not have the opportunity to reject an offer — he or she goes home with whatever player A offers. Experiments have observed that when player A splits the $100, he or she consistently offers over $10 to player B. Which of the following comments fits best
a. Although player A is acting as economic theory usually assumes, he or she makes such offers because they seem more fair. b. Although player A is acting as economic theory usually assumes, he or she makes such offers although they are not fair. c. Although player A is not acting as economic theory usually assumes, he or she makes such offers because they seem more fair. d. Although player A is not acting as economic theory usually assumes, he or she makes such offers because they are not fair.