Smooth Concrete is a local firm specializing in concrete driveways. Considering that concrete is very heavy, Smooth Concrete is more likely to ________ its own concrete to ________ transportation costs.
A) make; reduce
B) buy; reduce
C) buy; increase
D) make; increase
A) make; reduce
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In the Keynesian model with a fixed money wage but a flexible price level, an increase in taxes will lower
a. output and the price level, but leave the interest rate unchanged. b. output, the price level and the interest rate. c. output and the interest rate, but leave the price level unchanged. d. output and the price level, but increase the interest rate. e. the price level and the interest rate, but leave output unchanged.
Which of the following statements regarding the use of gold as money is false?
A) The money supply would be easy to control because of the predictability of new gold discoveries. B) It is durable. C) It has value other than money. D) It is acceptable to traders.