Cigarettes served as money in some prisoner of war (POW) camps during World War II. Given this, we would expect to observe
A) no one ever smoking a cigarette.
B) prices of other goods expressed in terms of cigarettes.
C) only government-issued cigarettes being accepted as money.
D) people usually resorting to barter rather than using cigarettes as money.
B
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Use the following table to answer the next question.Year123456Price Index10095105125125120Nominal GDP rises faster than real GDP between years ________.
A. 2 and 4 B. 5 and 6 C. 1 and 2 D. 4 and 5
A construction boom occurs and many of the new buildings need plywood for their framing. Which of the figures above best illustrates this change?
A) Figure A B) Figure B C) Figure C D) Figure D E) Figure A or Figure C
A movement along the consumption function is the result of changes in
a) the real interest rate b) disposable income c) expected future income d) the price level
Which of the following statements reflects a situation in which there are external costs?
A. Suzanne pays for a professional fireworks show for her family. Her neighbors also enjoy the show. B. Suzanne dumps her household garbage around the corner of the street. C. Suzanne invites her neighbors to a party on her birthday. D. Suzanne paints her house and landscapes her yard. Her newly beautified house and yard help her neighbors to sell their house for more than the asking price.