Eggs are considered a poor medium of exchange principally because of their
a. durability
b. portability
c. volatility
d. fragility
e. abundance
D
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Money eliminates the need for a coincidence of wants in trading primarily through its role as a
A. store of value. B. unit of account. C. medium of deferred payment. D. medium of exchange.
Refer to the scenario above. Suppose there are several other bidders in the auction. Roger will win the auction only if ________
A) all the other bidders bid above $625 B) all the other bidders bid below $625 C) all the other bidders are risk-lovers D) all the bidders are risk-averse
The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the Japanese yen ________ against the U.S dollar and the Euro ________ against the U.S. dollar
A) appreciated; appreciated B) depreciated; appreciated C) depreciated; depreciated D) appreciated; depreciated
If future benefits are underestimated by a firm,
A. the firm will invest too little in capital. B. the firm will only sell bonds to invest in capital. C. the firm will use only retained earnings to invest in capital. D. the firm will invest too much in capital.