The property of money that allows us not to worry about "using it before it spoils" is called the
A. medium of exchange.
B. store of value.
C. security of value.
D. creation of value.
Answer: B
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Stockholders have limited liability for the acts of the corporation for which they hold stock.
A. True B. False C. Uncertain
What is "adverse selection"?
What will be an ideal response?
A theory of fairness that holds that taxpayers should contribute to the government in proportion to the benefits they receive from public expenditures is the
A. benefits-received principle. B. equality-for-all principle. C. equity principle. D. ability-to-pay principle.
For simplicity, the IS model assumes that neither net exports nor net taxes vary with income. A more realistic (and complicated) model would drop such assumptions. How would the behavior of the IS curve differ in the more realistic model?
What will be an ideal response?