Money's principal function is to serve as a
a. standard for making loans.
b. standard for credit reporting.
c. medium of exchange.
d. method for storing wealth.
c
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To aggregate 300 tons of steel, 5,000 bushels of wheat, and 1 million barrels of crude oil, economists add together the ________ of the three products
A. number of tons, bushels, and barrels B. units C. weight D. dollar value
If an industry's Herfindahl-Hirschman Index is less than 1, the industry is likely to be
A) competitive. B) an oligopoly. C) a monopoly. D) technologically inefficient.
Which of the following bank assets is the most liquid?
A) consumer loans B) reserves C) state and local government securities D) U.S. government securities
The short-run aggregate supply curve (in the absence of misperceptions)
A. slopes downward. B. is horizontal. C. is vertical. D. slopes upward.