Which of the following statements does NOT describe a function of money?
A) a store of value
B) a hedge against inflation
C) a standard of deferred payment
D) a unit of accounting
B
You might also like to view...
If total consumption spending is $1,000, the marginal propensity to consume is 0.6, and total output is $2,000, then the constant term is
A) $800. B) $1,000. C) $2,000. D) $1,200.
Economists develop models to
A) capture every detail of the real world. B) make their arguments more realistic. C) justify the assumptions they make about people's behavior. D) help us understand economic phenomena in the real world.
Total costs:
A. increases as the firm increases output. B. are fixed costs plus variable costs. C. include explicit and implicit costs. D. All of these are true.
Economic models like the _____________________ are not physical models, but instead are diagrams or graphs or even mathematical equations that represent economic patterns or theories.
A. financial capital market B. circular flow diagram C. financial investment market D. Specialization Model