A disadvantage of ________made from precious metals is that it is very heavy and hard to transport from one place to another
A) commodity money
B) fiat money
C) electronic money
D) paper money
A
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The data in the above table indicate that when the price level is 120
A) firms have unexpectedly low inventories, so prices will rise. B) inventories are at levels planned by firms. C) firms will plan to increase the level of output. D) firms have unexpectedly high inventories, so prices fall.
Marylou, whose utility of wealth curve is shown in the figure above, faces two options. Option A yields her $200 for sure. Option B has a 0.4 probability of yielding $100 and a 0.6 probability of yielding $300. Marylou
A) picks option A. B) picks option B. C) is indifferent between option A and option B. D) needs more information to make a choice.
If aggregate expenditure is less than GDP, inventories will
a. grow and prices will fall b. grow and GDP will rise c. grow and GDP will fall d. shrink and GDP will rise e. shrink and GDP will fall
Rawls argued in favor of income inequality
a. True b. False