Agraria uses bushels of wheat to quote prices. In this case, bushels of wheat act as a
A. medium of exchange.
B. store of value.
C. commodity value.
D. unit of account.
Answer: D
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Monetary aggregates are
A) measures of the money supply reported by the Federal Reserve. B) measures of the wealth of individuals. C) never redefined since "money" never changes. D) reported by the Treasury Department annually.
Financial deregulation and innovation in the United States has greatly ________ the variety of financial market instruments savers can choose from and has also ________ the dominance of banks among the financial intermediaries
A) reduced, increased B) reduced, reduced C) increased, increased D) increased, reduced
Which of the following is an example of an application of the ceteris paribus assumption?
A) An analysis of how price changes affect how much of a good people will purchase when all other factors are held constant B) An analysis of how people purchase more goods when prices decline and income increases C) After reading an article on the dangers of high-fat diets, an individual buys less red meat when prices increase D) An analysis of how worker productivity increases when a firm invests in new machines and training programs
An increase in the effective tax rate on capital would cause the IS curve to ________ and the LM curve to ________.
A. shift up and to the right; shift up and to the left B. shift up and to the right; be unchanged C. shift down and to the left; be unchanged D. shift down and to the left; shift up and to the left