The value of money rises as the price level
a. rises, because the number of dollars needed to buy a representative basket of goods rises.
b. rises, because the number of dollars needed to buy a representative basket of goods falls.
c. falls, because the number of dollars needed to buy a representative basket of goods rises.
d. falls, because the number of dollars needed to buy a representative basket of goods falls.
d
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A depository institution receives deposits from lenders and makes loans to borrowers
Indicate whether the statement is true or false
An important contributor to rising U.S. health care costs in recent years is
A) less interest on the part of Americans to stay physically fit. B) the increasing proportion of the population that smokes. C) an easing of standards at medical schools that has permitted unqualified people to become physicians. D) the aging of the population.
Name two macroeconomic variables that decline when an economy goes into recession, and name one macroeconomic variable that rises
Assume that this graph illustrates a perfectly competitive labor market.
In this market, at a wage of $40:
A. approximately 175 worker hours would be hired. B. the market would be in equilibrium. C. firms would not be able to find enough workers to fill all their positions. D. more people would want to work than number of job openings.