The demand schedule for a commodity illustrates how the consumption of a commodity changes with changes in:
A) its price. B) tastes and preferences.
C) supply. D) income.
A
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If the price elasticity of demand for a good equals one, then the demand for that good is:
A. inelastic. B. elastic. C. unit elastic. D. perfectly elastic.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
When your grandfather keeps a bundle of $100 dollar bills behind a brick in the basement, this is an example of dollars serving as:
A. a store of value. B. a medium of exchange. C. bank reserves. D. a unit of account.
Consequences of the European Monetary Union include ________
A) a global financial crisis in 2007-2008 B) tightening of capital controls in several economies C) convergence of unemployment rates across the member economies D) consistent monetary policy across the member economies