As inflation rates increase, money becomes less useful as a
A) store of value. B) double coincidence of wants.
C) unit of account. D) medium of exchange.
A
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The owner of a proprietorship might decide incorporate the firm as a corporation in order to
A) be able to conduct business in more than one county. B) avoid the principal-agent problem. C) be eligible for patent protection of new products. D) gain limited liability.
Evidence suggests that credit-rating agencies ________ exploited conflicts of interest because ________
A) have not; it would cause their ratings to lose credibility and thus have a lower value in the marketplace B) have not; they would have an increase in profits in the long-run C) have; it would cause their ratings to lose credibility and thus have a lower value in the marketplace D) have; they would have an increase in profits in the long-run
An increase in income causes, the price for ipads _____________ and the quantity demanded for ipads ____________
a. Increase; increase b. Increase; decrease c. Decrease; increase d. Decrease, decrease
A transfer payment is a payment by the government to an individual
A) for a service. B) for an investment good. C) for a consumption good. D) for which the government does not receive a good or service in return. E) for a debt owed.