Agraria uses bushels of wheat to quote prices. In this case, bushels of wheat act as a
a. medium of exchange.
b. store of value.
c. commodity value.
d. unit of account.
d
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A decrease in the price level, holding the nominal money supply constant, will shift the LM curve
a. upward and to the right. b. downward and to the left. c. downward and to the right. d. upward and to the left.
One disadvantage of corporations is the double taxation of income to the owners.
Answer the following statement true (T) or false (F)
If an industry is dominated by three large producers whose revenues represent 30%, 30%, and 30% of the market's total revenues with the remaining two firms each representing 5%, what would be the four firm concentration ratio and the Herfindahl-Hirschman Index for this industry?
a. 95%; 2,725 b. 95%; 2,750 c. 70%; 9,975 d. 70% 10,000
Which of the following would be cures for the U.S. trade deficit?
A. Americans saving less and spending more B. A severe recession in Europe and Asia C. A severe recession in the United States D. A tax cut E. All of these responses are correct.