In economics, cost is measured as ________, and benefit is measured as ________
A) what you are willing to pay on the margin; what the government pays you when you are unemployed or retired
B) the amount of money that you pay on the margin; the amount of money that you receive on the margin
C) what you must give up to get something; what you are willing to give up to get it
D) the amount of money that you pay for something; the amount of money that someone else is willing to pay you
E) what you are willing to give up to get it; what you must give up to get something
C
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When prices rise:
A) money supply tends to rise. B) menu costs tend to fall. C) consumers' purchasing power falls. D) money demand tends to fall.
As was demonstrated in 2007, firms in the shadow banking system
A) were very vulnerable to bank runs. B) were protected from financial ruin by federal deposit insurance. C) were more insulated from the financial crisis than were commercial banks. D) were well insulated from bank runs.