What gives a demand deposit value?
A) The belief others will readily accept the demand deposit in exchange for valuable goods
B) The currency the bank holds as reserves
C) The guarantees the government provides
D) The gold backing the deposits
E) In God we trust.
A
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An aggregate supply curve depicts the relationship between
A) the price level and the quantity of nominal GDP supplied. B) household expenditures and household income. C) the price level and the quantity of real GDP supplied. D) the money wage rate and the quantity of real GDP supplied.
The Human Development Index does not contain a component on
a. income b. literacy c. food intake d. life expectancy e. it contains components of all
Economic profit is defined as
a. total revenue minus implicit costs b. total revenue plus explicit costs c. total revenue plus implicit costs d. wages plus interest minus rent e. total revenue minus implicit and explicit costs
Why does the International Ladies' Garment Workers Union pay for advertising that promotes American- made textile products?