If an economy tried to use bananas as money, which function would bananas likely have the most difficult time fulfilling?
A) a store of value
B) a unit of account
C) a medium of exchange
D) a means of payment
A
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Refer to Figure 28-2. Suppose the economy is at point C in the figure above. If workers adjust their expectations of inflation, which of the following will be true?
A) The natural rate of unemployment is 6%. B) Workers and firms expect inflation to be 1%. C) The short-run Phillips curve will shift to the left. D) The short-run Phillips curve will shift to the right. E) The economy will move from C to A.
Which of the following is not generally considered to be an ingredient for economic growth?
a. Investment in human capital. b. Political instability. c. High savings rate and investment in capital. d. Growth in technology. e. Investment in infrastructure.
A monopolistic industry will have a Herfindahl index value of:
a. 1. b. 100. c. 500. d. 1000. e. 10.
The primary goal of any business firm is to maximize social welfare
a. True b. False Indicate whether the statement is true or false