Which of the following is counted as money?
a. Bonds
b. Credit card payments
c. Credit card limits
d. Currency
e. Corporate stock
D
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Suppose the Federal Reserve desires to raise the level of planned investment in the economy
It either has to hope that an improvement in business confidence shifts the rate-of-return line to the ________ , or it has to take direct action by ________ the interest rate. A) right, raising B) right, lowering C) left, raising D) left, lowering
The law of one price applied to the international marketplace is called:
a. real exchange rates. b. nominal exchange rates. c. arbitrage. d. purchasing-power parity.
Answer the following statement true (T) or false (F)
1) The marginal revenue product curve of a purely competitive seller declines solely because of the law of diminishing returns. 2) Producers should hire resources until the total output of each is equal. 3) It will be profitable for a firm to hire additional units of any resource up to the point at which its MRP is equal to its MRC. 4) The more elastic the demand for a product, the less elastic will be the demand for the resources employed in producing it.
When Jason and Jacky use dollars to compare the market values of their cellphones, money is acting as a
A. unit of accounting. B. standard of deferred payment. C. store of value. D. medium of exchange.