A person's wealth
A) is measured independent of his or her current and expected future income.
B) is a measure of how much money the person has.
C) equals the value the person's assets minus his or her liabilities.
D) All of the above are correct.
C
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The quantity of real GDP demanded equals $16.2 trillion when the price level is 90. If the price level rises to 95, the quantity of real GDP demanded equals
A) less than $16.2 trillion. B) $16.2 trillion. C) more than $16.2 trillion. D) more information is needed to determine if the quantity of real GDP demanded increases, decreases, or does not change.
When the U.S. Treasury purchases gold from a member of the non-bank public, the immediate effect is that __________ and __________
A) reserves increase; currency in circulation decreases B) reserves decrease; currency in circulation increases C) reserves increase; Treasury deposits decrease D) reserves decrease; Treasury deposits increase
Which of the following is NOT related to the slope of isoquants?
A) The fact that inputs have positive marginal product B) The fact that inputs have diminishing marginal product C) The fact that input prices are positive D) The fact that more of either input increases output E) The fact that there are diminishing returns to inputs
Juanita quit her job to move to Santa Fe to be closer to her family. She is actively looking for a new job in Santa Fe. Juanita is considered:
A. structurally unemployed. B. cyclically unemployed. C. frictionally unemployed. D. not to be unemployed.