The money supply consists of
A) currency alone.
B) currency and checking accounts.
C) checking and savings accounts.
D) currency and checking and savings accounts.
E) checking accounts alone.
B
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In response to an increase in the wage rate, the income effect will usually cause a person to
A) supply fewer hours of labor. B) supply more hours of labor. C) supply the same hours of labor. D) have a horizontal labor supply curve.
Use the following graph to answer the next question.
All else held constant, a rightward shift of the demand curve would ________.
A. depreciate the dollar B. depreciate the euro C. reduce the equilibrium quantity of euros D. appreciate the dollar
In the absence of technological progress, a decrease in the saving rate will cause which of the following?
A) decrease temporarily the growth of output per worker B) decrease the steady state growth of output per worker C) increase temporarily the growth of output per worker D) increase the steady state growth of output per worker E) have an ambiguous effect on the growth of output per worker
According to the diagram in the above figure, what is the marginal benefit of consuming the 3 millionth gallon of gasoline per month?
A) 5 pounds of shrimp per gallon of gasoline B) 3 pounds of shrimp per gallon of gasoline C) 2 pounds of shrimp per gallon of gasoline D) 1 pound of shrimp per gallon of gasoline