Which statement describes an advantage of money as a store of value?
What will be an ideal response?
It can be easily liquidated.
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The market supply in the short run for the perfectly competitive industry is
A) the same as each producer's supply. B) the sum of the supply schedules of all firms. C) divided up according to each firm's selling price. D) set at the maximum price a buyer will pay for one unit. E) equal to the average of each firm's supply schedule.
While the world was fairly integrated at the turn of the last century, most trade was in agricultural and raw materials, whereas today manufactured consumer and producer goods play a much greater role in determining exports and imports
Indicate whether the statement is true or false
All of the following are true, except
a. Bubbles are prices that cannot be explained by normal economic forces b. Many economists don't think bubbles exist c. Many economists have a clear idea about how to model bubbles d. All of the above are true
In short-run perfectly competitive equilibrium, which of the following is alwaystrue?
a. Profit equals zero. b. Profit can be negative, zero, or positive. c. Profit can be zero or positive, but not negative. d. Profit is positive, otherwise firms would not produce.