Which of the following resulted in the financial crisis in 2007-08?
a. Falling international reserves
b. Short-term investments made by China in the US
c. Lack of transparency
d. Bad loans on U.S. mortgages
e. Fixed rates of interest
d
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Which of the following will cause a decrease in the standard of living for an individual?
A. a decrease in socioeconomic status B. an increase in wealth C. an increase in income D. a decrease in disease
Which of the following statements is false?
A) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale. B) Anytime you have to decide which action to take you are facing an economic trade-off. C) Economics is a social science that studies the trade-offs we are forced to make because of scarcity. D) Every individual, no matter how rich or poor, is faced with making trade-offs.
Between 1775 and 1780, $242 million of Continental Notes were printed. As the quantity of the Continentals multiplied,
a. the demand for these notes multiplied as well b. their value depreciated c. their value appreciated d. banks on the European continent intervened to stabilize the value of the Continental notes e. silver and gold became less valuable
When the money market is drawn with the value of money on the vertical axis, as the price level decreases, the value of money
a. increases, so the quantity of money demanded increases. b. increases, so the quantity of money demanded decreases. c. decreases, so the quantity of money demanded decreases. d. decreases, so the quantity of money demanded increases.