An excess quantity of money demanded will lead to a rise in
A. bond prices.
B. income.
C. the interest rate.
D. investment.
Answer: C
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Economic models are used to
A) represent the complexities of economic environments. B) explain every detail of an economic theory. C) explore decision making by individuals, firms and other organizations. D) build physical renditions of government construction projects.
The exchange rate affects the trade in goods and services between California and NewYork
a. True b. False Indicate whether the statement is true or false
Suppose earnings are given by E = $60 + $7(24 ? L), where E is earnings and L is the hours of leisure. What is the price to the worker of consuming an additional hour of leisure?
A. $24 B. $12 C. $7 D. $10
In Table 9.3, Market 3 would be in equilibrium if buyers believed lemons account for:
A. 45% of the market. B. 50% of the market. C. 55% of the market. D. 60% of the market.