Which of the following statements is true?
a. The money price is usually the same as the time price for most consumers.
b. The money price of a good is always greater than the time price.
c. The money price is always greater for high-wage earners than for low-wage earners.
d. The time price is usually less for low-wage earners than for high-wage earners.
e. The time price of a good is directly proportional to the money price.
D
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The intersection of the supply and demand curves indicates:
A) the equilibrium solution in the market. B) a surplus that will cause the price to fall. C) a shortage that will cause the price to rise. D) the quantity demanded exceeds the quantity supplied.
In the Classical view, the money supply determines
A) interest rates. B) the saving rate. C) aggregate supply. D) the price level.