In economics money is defined as A. the total amount of salaryinterest and rental income earned during a year. B. the totalvalue of ones assets minus […]
Dollar bills in the modern economy serve as money becauseA. they have value as a commodity independent of their use asmoney.B. they can be redeemed for […]
Which of the following would be classified as fiscal policy? A.A state government cuts taxes to help the economy of the state. B.The federal government passes […]
A demand curve which is ________ represents perfectly inelasticdemand and a demand curve which is ________ represents inelasticdemand. A. horizontal; downward sloping B. vertical; downwardsloping C. […]
If demand is inelastic the absolute value of the priceelasticity of demand isA. greater than one.B. greater than the absolute value of the slope of the […]
Destabilizing speculation refers toA. actions taken by the International Monetary Fundthat increase lending to countries who have pegged their currenciesagainst the dollar.B. actions taken by investors […]
Consider a good whose consumption takes place publicly. On whatfactors would your decision to buy that good depend? A. only on thecharacteristics of the good itself […]
Economics does not study correct or incorrect behaviors butrather it assumes that economic agents make the best decisionsgiven their knowledge of the costs and benefits. What […]