If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as:
A. a medium of exchange.
B. a store of value.
C. a unit of account.
D. an economic investment.
A. a medium of exchange.
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If real GDP is $6,460 billion, the population is 184.6 million people, and aggregate hours is 170 billion hours, labor productivity is
A) $2.63 an hour. B) $2.86 an hour. C) $35,000. D) $38.00 an hour. E) 920 hours.
A legal limit on the quantity of a good that may be imported is called a(n) ________.
A. tariff B. import tax C. trade limit D. quota
A firm could continue to operate for years without ever earning a profit as long as it is producing an output where
A) MR < ATC. B) ATC > AVC. C) MR > AVC. D) AFC < AVC.
In the market for money, the behavior of borrowers is represented by the
A. supply curve. B. a combination of the supply and demand curves. C. neither the supply curve nor the demand curve. D. demand curve.