By functioning as a unit of account, money provides a common measurement of the relative value of goods and services
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to Figure 7-2. Marginal social benefit is represented by which curve?
A) Supply B) D2 C) D1 D) All of the above represent marginal social benefit.
Which of the following is the LEAST common?
A) free trade areas B) currency unions C) currency crises D) nominal anchors
In the United States, barriers to entry in professional team sports (for example, football and baseball) result from
A) the draft of college players, which grants teams exclusive signing rights to individual players. B) long-term leases teams sign for stadiums and ballparks in major cities. C) television contracts, which give networks the exclusive rights to broadcast games. D) the reserve clause, which is a provision in contracts of professional athletes that require them to play for specific teams over the length of their contracts.
A certain magazine offers its subscribers the opportunity to "Buy Now and Save." If at the time their subscription renewal is due they agree to pay for 2 years rather than 1, the renewal price will be $50 per year rather than the usual $60 per y
At what interest rate will the consumer, who is certain she will subscribe to the magazine for the next 2 years, decide to "Buy Now and Save"? A) any interest rate under 50 percent B) any interest rate over 1.5 percent C) any interest rate over 150 percent D) any interest rate under 5 percent E) She will always take this offer if she is absolutely certain to buy the magazine for another 2 years.