Rent seeking is the actions of
A) individuals and groups who spend resources to influence public policy in the hope of redistributing income to themselves from others.
B) a subset of the population that hold intense preferences for a particular government service.
C) some citizens who choose not to acquire information because the costs of acquiring the information are greater than the benefits.
D) politicians who exchange votes to gain support for their own legislation.
A
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Which function of money represents a measure for stating the prices of goods and services?
A) medium of exchange B) unit of account C) store of value D) means of payment
There is a movement along the demand for money curve if
A) the nominal interest rate rises. B) there is an economic expansion so that real GDP increases. C) banking customers use ATM machines more. D) the price level increases.
To calculate the slope of a curved line, you can calculate the slope at a point on the curve or across an arc of the curve
Indicate whether the statement is true or false
Something that would cause the long-run aggregate supply curve to shift to the right would be the:
A. inflation rate decreasing. B. The long-run aggregate supply curve is fixed, and does not shift. C. unemployment rate decreasing. D. discovery of a new oil reserve.