When a person takes cash to the bank and deposits it in a checking account,
a. that act directly and immediately reduces the amount of money in the economy.
b. that act directly and immediately increases the amount of money in the economy.
c. that act directly and immediately changes one kind of money into another kind of money.
d. None of these.
c. that act directly and immediately changes one kind of money into another kind of money.
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If Australia purchases $200,000 of oil from Saudi Arabia, this would mean ________.
A. Australia's balance of payments is $200,000 B. there is a credit in Australia's current account C. the change in Australia's capital and financial accounts must be zero D. the sum of the financial and capital accounts in Australia must increase by $200,000
According to the functional distribution of income, in the United States
A) capital earns most of the income. B) labor earns most of the income. C) land earns most of the income. D) entrepreneurs earned most of the income. E) the income earned by capital and labor are approximately equal.
Which of the following goods is more likely to be excludable?
A) a chocolate bar B) a concert at Times Square C) national defense D) ocean breeze
In order for barter to occur, traders must have a:
a. unit of account. b. coincidence of wants. c. medium of exchange. d. central banking facility.