A major problem with commodity money is that, to be useful, money must be
A. divisible.
B. storable.
C. portable.
D. All of these responses are correct.
Answer: D
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See table below. Does production exhibit increasing costs? Which ring and machine combination will achieve the highest growth in the production of mood rings? Saturn Rings Machines 30 0 20 5 10 8 0 10
What will be an ideal response?
If individuals decide to save more for retirement,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) an excess supply of loanable funds emerges and persists.
Each of the following statements about capital are correct EXCEPT
A. Capital is a "man"-made good used to produce other goods and services. B. Japan has more capital than any other country in the world. C. Office buildings and shopping malls are examples of capital. D. Capital is considered a passive resource.
A tax imposed by a government on imports of a good into a country is called a
A) tariff. B) quota. C) value added tax. D) sales tax.