________ is used to make purchases while ________ is the total collection of pieces of property that serve to store value
A) Money; income
B) Wealth; income
C) Income; money
D) Money; wealth
D
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The quantity demanded is
A) always equal to the equilibrium quantity. B) independent of the price of the good. C) the amount of a good that consumers plan to purchase at a particular price. D) independent of consumers' buying plans.
"Rolling over" the debt means
a. to repay old bonds that come due for payment by issuing new bonds. b. to repay old bonds that come due by printing money. c. dividing the tax burden of the debt across the fifty states based on their share of the population. d. dividing the tax burden of the debt across the fifty states based on their share of economic activity. e. to repay old bonds that come due by giving gold to the bondholders from the national gold depository in Fort Knox..
Which of the following is a false statement about absolute and comparative advantage?
a. Comparative advantage is the basis for gains from trade. b. It is possible for one country to have the absolute advantage in all goods. c. It is possible for one country to have the comparative advantage in all goods. d. To find comparative advantage, you need to consider opportunity cost. e. All of these statements are true.
Assume that the Paris First National Bank currently has deposits of $20 million. If the current required reserve ratio is raised from 20 percent to 40 percent, then:
A. Paris First National Bank must increase its required reserves from $4 million to $8 million. B. required reserves will decrease from $16 million to $12 million. C. excess reserves will automatically increase by $20 million. D. Paris First National Bank must close out 4 million in loans.