The primary functions of money are
a. velocity, liquidity, and transactions
b. speculative demand, measure of value, and precautionary demand
c. a medium of exchange, a measure of value, and a store of value
d. a store of value, heterogeneity, and a medium of exchange
e. currency value, fiat value, and accepted value
C
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The above table gives assets and deposits for a (small) bank. The bank's reserves are equal to
A) $20. B) $30. C) $600. D) $630. E) $620.
Veruca sells therapeutic bath salts on the Internet. Her annual revenue is $52,000 per year, the explicit costs of her business are $14,000, and the opportunity costs of her business are $17,000 per year
What are the implicit costs of her business? A) $14,000 B) $17,000 C) $21,000 D) $31,000
If a bank's return on equity remains constant, but the ratio of bank assets to bank capital increases:
A. the bank's assets and capital must have increased by the same percentage. B. the bank's return on assets must have decreased. C. the bank's return on assets must have increased. D. the bank must be unprofitable.
Which of the following is NOT a reason why a firm may experience economies of scale?
A) productive specialization B) dimensional factors C) improved productive equipment D) increased layers of management