Recall the Application about the decrease in price of illegal drugs in the United States to answer the following question(s).Recall the Application. The decrease in price of illegal drugs could be caused by either a(n) ________ in demand or a(n) ________ in supply of the drugs.
A. increase; increase
B. increase; decrease
C. decrease; increase
D. decrease; decrease
Answer: C
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Of money's three functions, the one that distinguishes money from other assets is its function as a
A) store of value. B) unit of account. C) standard of deferred payment. D) medium of exchange.
If a person is risk neutral, then she
A) is indifferent about playing a fair game. B) will pay a premium to avoid a fair game. C) has a horizontal utility function. D) has zero marginal utility of wealth.
M1 differs from M2 in that:
A. M2 includes savings deposits, small-denomination time deposits, and money market mutual funds that are not included in M1. B. the assets in M2 are more liquid than the assets in M1. C. M1 includes currency and balances held in checking accounts, which are not included in M2. D. M1 is a broader measure of the money supply than M2.
In 2009, the return on American investments abroad was _____ the return earned by foreigners on their investments in the U.S.
A. larger than B. about equal to C. smaller than