Which of the following does not cause the money demand curve to shift?
A) a change in the interest rate
B) a change in the price level
C) a change in transfer costs
D) a change in real GDP
Ans: A) a change in the interest rate
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A country has an absolute advantage over another in the production of widgets if it can produce
a. widgets using smaller quantities of resources than can the other country. b. more widgets than can the other country. c. widgets more efficiently than can the other country. d. widgets at a lower opportunity cost than can the other country.
A barter economy is different from a money economy in that a barter economy
A. encourages specialization and division of labor B. involves higher costs for each transaction C. eliminates the need for a double coincidence of wants D. has only a few assets that serve as a medium of exchange E. promotes market exchanges