Anne works as a babysitter. She uses her wage as a babysitter to buy a pair of roller skates. In this case, money served the function of ________
A) a medium of exchange B) a unit of account
C) a store of value D) a means of deferred payment
A
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Self-interest relates to
A) only monetary objectives. B) both monetary and nonmonetary objectives. C) the ceteris paribus assumption. D) normative economic analysis and not positive economic analysis.
A requirement for development is
a. an unreliable system of financial institutions b. a lack of saving by households and firms c. low confidence in domestic currency d. low and predictable inflation that encourages saving e. None of the answers is correct
Factors that impede the attainment of economic efficiency in the public sector are called:
A. market failures. B. externalities. C. government failures. D. voting irregularities.
The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. The firm's markup is ________ per calculator
A) zero B) $2 C) $4 D) $6