Which of the following is an example of money?
A) currency inside the banks
B) currency in your wallet
C) credit card used as a payment for a good or service
D) a debit card
E) checks written as payment for a good or service
B
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Evidence from the United States and other foreign countries indicates that
A) there is a strong positive association between inflation and growth rate of money over long periods of time. B) there is little support for the assertion that "inflation is always and everywhere a monetary phenomenon." C) countries with low monetary growth rates tend to experience higher rates of inflation, all else being constant. D) money growth is clearly unrelated to inflation.
The nation's largest cable TV company tested the effect of a price reduction for premium movie channels. It increased prices from $20 to $30 per month and found virtually no change in the number of customers. This means: a. the demand curve for the premium movie channels shifted to the right
b. the supply curve for premium movie channels shifted to the left. c. the demand for premium movie channels is very elastic in this price range. d. the demand for premium movie channels is very inelastic in this price range.