We say that money is a store of value because it represents:
A. a certain amount of purchasing power held over time.
B. something you can use to purchase goods and services.
C. something you can directly offer, like any good or service, in exchange for some good or service you want.
D. a standard unit of comparison.
A. a certain amount of purchasing power held over time.
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In Zimbabwe and Namibia, a limited number of permits to hunt elephants are sold to hunters, and the revenue from the permits is shared with local residents
This gives the residents a financial incentive to ________, and as a result, the elephant populations have ________ in those countries. A) stop protecting elephants from poachers; dwindled B) preserve elephant habitat; disappeared C) stop protecting elephants from poachers; grown D) protect elephants from poachers; rebounded
Human capital is
A) all capital owned by individuals, but not by corporations or governments. B) all capital owned by individuals or corporations, but not by governments. C) machinery that meets or exceeds federal safety standards for use by humans. D) the skill and knowledge of workers.
Refer to Table 9-1. The labor force participation rate for this simple economy equals
A) (1,100/20,000 ) × 100. B) (1,000/15,000 ) × 100. C) (1,100/15,000 ) × 100. D) (1,000/1,100 ) × 100.
Suppose you purchase a bottle of vitamin water with a price of $3. The price of $3 best reflects the function of money as a ________, and when you take $3 out of your wallet to purchase the bottle, money is functioning as a ________
A) medium of exchange; standard of deferred payment B) store of value; unit of account C) unit of account; medium of exchange D) medium of exchange; store of value