The statement "This Dell laptop costs $1,200" illustrates which function of money?
A) store of value B) standard of deferred payment
C) unit of account D) medium of exchange
C
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How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the left. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the right.
The simplified Keynesian model
A) holds the price level constant. B) holds real GDP constant. C) assumes investment and saving are always equal. D) assumes unemployment is unrelated to real GDP.
Average total cost exceeds average variable costs by the value of marginal cost
a. true b. false
The contagion that spread to South Korea, Indonesia, and other countries during the Asian financial crisis was:
A. competitive devaluation that led to plummeting exchange rates for all. B. speculative attacks forcing them to abandon their fixed exchange rates. C. competitive revaluation that led to severe overvaluation and collapse for all but South Korea. D. a result of employing a fixed exchange rate by China.