Purchasing common stock by writing a check best exemplifies money serving as a:
A. store of value.
B. unit of account.
C. medium of exchange.
D. index of satisfaction.
C. medium of exchange.
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The purpose of antitrust legislation is
A) to reduce unemployment. B) to reduce the power of monopoly. C) to increase the power of monopoly. D) to maximize employment for a given price level.
The midpoint price between $20 and $40 is
a. $10 b. $20 c. $30 d. $15 e. $200
When the government enacts fiscal policy, it:
A. may not always be able to improve matters. B. might make things worse. C. can bring the economy to its long-run equilibrium more quickly than it can correct itself. D. All of these are true.
Which of the following could lead to an inward shift of the production possibilities frontier?
a) an increase in the cost of one good b) an increase in the utilization of resources c) a rise in the level of technology d) a law is passed whereby a mandatory retirement age of 60 is imposed, from an original age of 65 e) a decrease in the utilization of resources