An increase in real GDP leads to
A) a movement upward along the demand for money curve but no shift of the curve.
B) a movement downward along the demand for money curve but no shift of the curve.
C) neither a shift in the demand for money curve nor a movement along the curve.
D) a leftward shift in the demand for money curve.
E) a rightward shift in the demand for money curve.
E
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For an asset to be a "means of payment," the asset
A) is valuable and backed by gold. B) can be used to settle a debt. C) is valuable and backed by the government. D) requires a double coincidence of wants. E) must be used when bartering.
Consumption is likely to fall if ________
A) the number of mortgage defaults in an economy rises B) the revenue earned by firms increase C) the demand for labor rises D) the supply of labor decreases