ECON 2010 – If David performs plumbing upgrades

Subject: Economics / General Economics
If David performs plumbing upgrades for Marissa in exchange for her incorporating his business, then their _________________________ will be satisfied.

Question 3 options:

balance of trade

double coincidence of wants

convenience of exchange

division of labor

Imagine Adam paid $175,000 for his house in 2003 and sold it for $325,000 in 2006. What function did the house serve during the time Adam owned it?

Question 7 options:

A) medium of exchange

B) unit of account

C) unit of exchange

D) store of value

The process of banks making loans in financial capital markets is intimately tied to the:

Question 10 options:

A) home construction industry.

B) creation of money.

C) financial stress levels of banks.

D) redistribution of wealth.

The Federal Reserve’s dual mandate means their mission is to control _____ and ____.

Question 12 options:

A) high unemployment and inflation

B) real GDP and inflation

C) Interest rates and high unemployment

D) high employment and nominal GDP

Monetary policy can be concisely described as

Question 13 options:

A) Engaging in open market operations (being any selling government securities) in accordance with the dual mandate

B) Targeting the interest rate to affect investment behavior in the macroeconomy

C) Expanding (or contracting) the money supply in order to correct short run fluctuations in real GDP

D) All of these

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