The need for a barter system diminishes when money is used as a
A. measure of value.
B. medium of exchange.
C. store of value.
D. unit of account.
Answer: B
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Which of the following strategies does your text suggest would allow a poorer nation to "catch up" to richer nations?
A) Unionization B) Higher minimum wages C) Lower interest rates D) Adoption of advanced technology E) Minimizing imports and maximizing exports
Summarize the effects of a subsidy on the market price and the quantity produced
What will be an ideal response?
Which of the following scenarios would be most likely to cause the shift in the demand of loanable funds from D0 to D1, shown in the following diagram?
a) A decrease in investment tax credits. b) A technological advancement that increases productivity. c) A decrease in business taxes. d) The lifting of business regulations.
According to the income effect of labor supply, if leisure is a normal good, then an increase in the wage rate will ________ the quantity of labor ________.
A. increase; supplied B. decrease; supplied C. increase; demanded D. decrease; demanded