Advantage of holding money?
What will be an ideal response?
Answer: money can be used to buy goods, services, and financial assets
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Ignoring the Ricardo-Barro effect, what impact does the government have in the loanable funds market?
What will be an ideal response?
Relative growth rates of the standard of living in the United States and Europe indicate that workers in ________ have chosen to "spend" ________ of their higher productivity on leisure rather than on consumption of market goods and services
A) Europe, a significant part B) the United States, a significant part C) Europe, almost none D) the United States, almost all
The value of the best alternative sacrificed to obtain something you want is referred to as
A) explicit cost. B) opportunity cost. C) marginal cost. D) sunk cost.
Demand-pull inflation is typically caused by rapidly rising costs of production
a. True b. False Indicate whether the statement is true or false