Betty won $500 in a poker tournament. She deposits her $500 winnings into a money market fund so that she can use the money next year to help her pay for a trip to Las Vegas. This is an example of money serving as a(n)
A. unit of account.
B. medium of exchange.
C. investment good.
D. store of value.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
When you chose to buy the second cup of coffee instead of the third bagel, which of the following is necessarily CORRECT?
A) The second coffee will give you higher marginal utility. B) The second coffee is cheaper than the third bagel. C) The marginal utility per dollar from the third bagel is less than the marginal utility per dollar from the second coffee. D) Both answers A and C are correct.
Because the United States has had substantial deficits in goods and services, it has also necessarily had surpluses in
a. the federal budget. b. the sales of assets. c. the sales of military goods. d. its gold supplies.
The supply curve for space on a freeway is perfectly vertical at any given point in time
Indicate whether the statement is true or false