Money that has no intrinsic value and is created by a government decree is called
A. commodity money.
B. fiat money.
C. barter money.
D. asset money.
Answer: B
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Suppose the Fed raises the federal funds rate. Put the following changes in order in which they occur, starting with the changes that take place almost immediately and ending with the changes that may occur up to two years afterwards:
i. Short-term interest rates rise. ii. Long-term interest rate rises. iii. Aggregate demand decreases. iv. Inflation rate decreases. A) ii-i-iv-iii B) ii-i-iii-iv C) i-ii-iv-iii D) i-iii-ii-iv E) i-ii-iii-iv
The annual statement of the outlays, tax revenues, and surplus or deficit of the government of the United States is the federal
A) budget. B) deficit record. C) debt to the public. D) spending. E) surplus record.
"According to the neoclassical growth theory, national incentives to save, invest, accumulate human capital, and develop new technology influence the country's growth rate of real GDP." Comment on the accuracy of the previous statement
What will be an ideal response?
Suppose that Starbucks reduces the price of its premium coffee from $2.20 to $1.80 per cup, and as a result, the quantity sold per day increased from 350 to 450 . Over this price range, the price elasticity of demand for Starbucks coffee is:
a. 0.40. b. 0.80. c. 1.25. d. 2.50.