The currency or money of the United States, like those of other countries, is:
A. Commodity money
B. Intrinsic money
C. Token money
D. Deposit money
C. Token money
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Using the figure above, suppose education is provided by public colleges, where tuition is set at $10,000 a year
When the market is in equilibrium, the marginal social benefit is ________, the marginal cost is ________, and the number of students enrolled is ________. A) $25,000; $25,000; efficient B) $25,000; $10,000; inefficient C) $15,000; $25,000; inefficient D) $15,000; $15,000; efficient E) $25,000; $15,000; inefficient
Applying elementary economics, mismatch unemployment should fall when relative wages
A) rise. B) fall. C) are more flexible. D) are less flexible.
When the U.S. Treasury purchases gold and then replenishes its deposit in the Fed the effect is that __________ and __________
A) reserves increase; gold certificates increase B) reserves decrease; gold certificates increase C) gold certificates increase; Treasury deposits increase D) gold owned by the Fed increases; Treasury deposits increase
Which of the following is true for both perfect and monopolistic competition?
A) Firms produce a differentiated product. B) Firms face a downward sloping demand curve. C) Firms produce a homogeneous product. D) There is freedom of entry and exit in the long run.