Which function of money allows for comparison shopping?
A. medium of exchange
B. standard of deferred payment
C. unit of accounting
D. store of value
Answer: C
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Refer to the scenario above. Which of the following statements will hold true if the starting bid is $300?
A) Everyone except Bob will take part in the auction. B) Everyone will take part in the auction. C) Only Bob will take part in the auction. D) Everyone except Joe will take part in the auction.
Tariffs discourage imports by making imported products more expensive to consumers
a. True b. False Indicate whether the statement is true or false
When changes in a product's price cause corresponding changes in consumer demand, the product has
A. elastic demand. B. usefulness. C. utility. D. inelastic demand
Maximum Feasible Hourly Production Rates (in Tons) of EitherKnives or Forks Using All Available ResourcesProductCountry AlphaCountry BetaKnives93Forks612Use the above table. Assuming constant opportunity costs, if countries Alpha and Beta specialize based on comparative advantage, then
A. Alpha should specialize in forks and Beta should specialize in knives. B. Alpha should specialize in knives and Beta should specialize in forks. C. Beta should produce both items. D. Alpha should specialize in producing both items.