Related to the Economics in Practice on p. 509: In Santa Cruz, red feathers from the Scarlet Honeyeater bird were used as currency. If someone in Santa Cruz had purchased a "huge amount " of these feathers as an investment, then in this instance, the feathers were being held as a(n)
A. unit of account.
B. legal tender.
C. store of value.
D. medium of exchange.
Answer: C
Economics
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The real interest rate is the rate at which borrowers or lenders ________ to make transactions when issuing or receiving loans
A) are required B) refuse C) expect D) can only obtain from a financial intermediary
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Which of the following is a distinguishing feature of a command system?
A. Private ownership of all capital. B. Central planning. C. Heavy reliance on markets. D. Widespread dispersion of economic power.
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What requirement does the PPACA place on individuals?
What will be an ideal response?
Economics
A period during which aggregate output rises is known as a(n)
A. recession. B. hyperinflation. C. inflation. D. expansion.
Economics