Money as a medium of exchange refers only to
A) currency.
B) gold coins.
C) anything that is generally accepted as payment for goods and services.
D) checks at commercial banks.
C
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The above figure shows the market for laptops. Which of the following causes a movement from A to B?
A) a decrease in the number of laptop manufactures and sellers B) an increase in the cost of hard drives C) an increase in the productivity of the workers manufacturing laptops D) a decrease in the price of laptops E) an increase in the price of laptops
In the long run, an increase in the quantity of money leads to
A) a smaller percentage increase in the real interest rate. B) a smaller percentage increase in the price level. C) an equal percentage increase in the price level. D) no effect on the price level or on real GDP. E) an equal percentage increase in the real interest rate.