Money performs all of the following functions EXCEPT serving as a
i. medium of exchange.
ii. unit of account.
iii. barter mechanism.
A) iii only B) ii only C) i only D) ii and iii E) i and ii
A
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The above figure shows a nation's production function. Point C is
A) unattainable given the nation's resource level. B) attainable if the nation uses resources efficiently. C) attainable if the nation uses resources inefficiently. D) the maximum amount of real GDP the nation can produce. E) the labor market equilibrium point.
Junk bonds are securities with
a. low risk and low yield. b. high risk and high yield. c. low risk and high yield. d. high risk and low yield.
Which tool do economists use to determine the effect of an economic event on equilibrium price and quantity?
a. equilibrium price b. the four-step process c. demand schedule d. supply schedule
In Europe, in 2005, Microsoft was penalized for______.
a. unfair labor practices b. price discrimination c. false advertising d. bundling products