The function of money that provides for a commonly recognized measure of value for the price system is a(n)
A. medium of exchange.
B. unit of accounting.
C. store of value.
D. standard of deferred payment.
Answer: B
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Which of the following is a macroeconomic statement?
A) Real domestic output of seafood increased 12 percent from 2015 to 2016. B) The U.S. inflation rate was two percent in 2016. C) The price of cell phones decreased by 18 percent last year. D) Motorcycle manufacturer productivity decreased by three percent in 2016.
Explain how new technologies, which increase productivity, affect the average variable cost, average total cost, and marginal cost curves
What will be an ideal response?
In the foreign exchange market, foreign residents wishing to purchase U.S. exports or U.S. real and financial assets must:
A) demand U.S. dollars by supplying their foreign currency. B) demand U.S. dollars by supplying U.S. dollars. C) supply U.S. dollars by demanding their foreign currency. D) none of the above.
Which of the following is not evidence of the lower standard of living among less- developed countries?
a. high per capita income b. high death rates c. high infant mortality rate d. low life expectancy e. high birth rate