As credit card usage expands in usage, the likely effect will be to
A) increase the velocity of M1.
B) reduce the velocity of M1.
C) increase money demand.
D) increase the money supply.
A
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With reference to the graph above, if the intended aim of the price ceiling shown was a net increase in the well-being of consumers, then positive analysis would conclude:
A. the policy was effective, since area A + C is larger than B + D.
B. the policy was effective, since area B is smaller than area D.
C. the policy was ineffective, since D is larger than E.
D. the policy was ineffective, since A + C + D is larger than B + E.
The Bureau of Labor Statistics' U-5 measure of joblessness is the official unemployment rate
a. True b. False Indicate whether the statement is true or false
Points that lie below the production possibilities curve are inefficient because:
A. too many goods are being produced. B. producers face scarcity. C. producing more of one good means producing less of the other. D. more of one good could be produced without producing less of the other.
Which is not considered to be an economic resource?
a. Money b. Labor c. Land (or natural resources) d. Tools and machinery