Coins and paper money are:
A. credits of commercial banks and savings institutions.
B. debts of the federal government and government agencies.
C. credits of the federal government and government agencies.
D. debts of commercial banks and savings institutions.
Answer: B
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Suppose good X is on the horizontal axis, good Y is on the vertical axis, and the slope of an individual's budget line is -2. Which of the following is true??
a. Good Y is twice as expensive as good X b. ?The consumer gives up two units of good Y for each unit of good X she purchases. c. ?The opportunity cost of good X is one half of a unit of good Y. d. ?All of the above are correct.
The potential output of an economy is the level of output produced when the: a. real wage equals the nominal wage
b. price level is constant. c. expected real wage equals the nominal wage. d. seasonal unemployment rate is zero. e. expected price level equals the actual price level.
Opponents of the Taylor rule argue that it implies more advanced knowledge about the economy than is potentially feasible
a. True b. False
You're willing to wait in line an hour to ride the new roller coaster at the amusement park, but your friend has no interest in waiting that long. This indicates that the ________ cost of time to you is different from that to your friend
a. sunk b. variable c. opportunity d. average