Which scenario best demonstrates how money acts as a store of value?
a. Tran knows a bottle of water is $1 and a birthday card is $2, so a birthday card has the same value as two bottles of water.
b. Natalie buys a new leather purse and a button-down blouse from her favorite boutique for $150.
c. Gabe borrows money from his mother to fix his car and gives her money every month until he has repaid her.
d. Anya buys a certificate of deposit, which she plans to cash in several years after she retires.
d. Anya buys a certificate of deposit, which she plans to cash in several years after she retires.
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Of the in-kind programs, food stamps have the highest total annual cost
Indicate whether the statement is true or false
Scarcity is
A) a situation of shortage after a hurricane. B) a permanent human condition relative to the nearly limitless nature of human desires. C) represented by long lines at stores. D) the same thing as poverty.
Many rural bank failures in the 1980s can be attributed to
a. the high farm prices of the 1970s that continued to rise in the 1980s and 1990s b. farmers' reluctance to buy more machinery and expand production due to the high farm prices of the 1970s c. the collapse of farm prices and land values in the early 1980s d. numerous loans made to oil-export economies such as Mexico and Venezuela e. the lack of rural loan portfolios being involved in farm ventures
Oligopoly is difficult to analyze because
A. price is not a decision variable for oligopolistic firms. B. of the complex interdependence that usually exists among oligopolistic firms. C. there is no price competition among oligopolistic firms. D. there is price competition among oligopolistic firms but no competition on product quality.