Which of the following is not an example of a fungible commodity?
A. Electricity
B. Money
C. Wheat
D. All of these are fungible commodities.
Answer: D
You might also like to view...
Upon getting a big promotion, Sally decides to buy a house in the neighborhood she grew up in as a child. In fact, the house she buys used to belong to a neighbor of hers, and so she's certain it's in good shape and well worth the $200,000 she pays for it. The only thing Sally needs to do is replace all the gutters for $1,000, which she happily does. How will GDP be affected by Sally's recent purchases?
A. Consumption will increase by $1,000, and investment will increase by $200,000. B. Consumption will increase by $210,000. C. Investment will increase by $201,000. D. GDP will increase by $1000.
John paints the exterior of his house and, as a result, his neighbor Christine is able to sell her home for $5,000 more than she could have before. John's house painting
a. creates a negative externality for Christine b. makes John a free rider c. results in an efficient market outcome for both parties since both benefit d. creates a positive externality for Christine e. was poorly done
Which statement is true regarding the difference between the demand curves for a monopolistic competitor and a monopolist?
a. A monopolistic competitor’s perceived demand curve is protected by barriers to entry. b. A monopolistic competitor's perceived demand curve is based on product differentiation and number of competitors. c. A monopolist’s perceived demand curve is based on product differentiation and number of competitors. d. A monopolistic competitor's perceived demand curve is the market demand curve.
What's the basis for arguing that deficits are likely to lead to lower living standards in the future?