A share of stock might be included in the definition of the money supply since it serves which of the following functions of money?
A) unit of account and a store of value
B) store of value
C) medium of exchange since it can be easily sold
D) B and C are both correct.
B
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The figure above shows Sally's budget line and one of her indifference curves. At point a, Sally's marginal rate of substitution is ________
A) 1/4 B) 4 C) 10 D) 40
Just as the theory of the competitive firm provides a more complete understanding of supply, the theory of consumer choice provides a more complete understanding of
a. demand. b. profits. c. production possibility frontiers. d. wages.
If a country raises its budget deficit then
a. both its supply of and demand for loanable funds shift. b. its supply of but not its demand for loanable funds shifts. c. its demand for but not its supply of loanable funds shifts. d. neither its supply nor its demand for loanable funds shift.
Perfect competition differs from monopolistic competition primarily because
A. in monopolistic competition, there are many firms in the industry. B. in perfect competition, firms have homogeneous products. C. in monopolistic competition, entry into the industry is limited. D. in perfect competition, price is a decision variable.