Comparing how many dollars it takes to attend college each year to annual earnings on a job represents the use of money as a:
A. medium of exchange.
B. unit of account.
C. store of value.
D. store of coincidence.
Answer: B
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An increase in the required reserve ratio by the Federal Reserve would:
a. cause M1 to contract. b. cause M1 to expand. c. have no effect on M1 or M2. d. affect only M2, not M1.
Adopt incentive compensation
a. Under all circumstances since it is the best solution b. Only if it is effective in making the agent work harder c. Only if its results exceed its costs d. Only B&C
Plurality voting ________ the ideal voting-system criteria.
A. fails one of B. meets all C. fails all of D. fails two of
An investor puts $2,000 into an investment that will pay $2,500 one-fourth of the time; $2,000 one-half of the time, and $1,750 the rest of the time. What is the investor's expected return?
A. 12.5% B. 3.125% C. $250.00 D. 6.25%