When you set aside the money you have today in order to purchase goods and services later on, you are using money as a
A) store of value. B) medium of exchange.
C) standard of deferred payment. D) unit of accounting.
A
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During the early 1930s, the Fed was reluctant to rescue nonsolvent banks out of fear of encouraging:
A) moral hazard B) adverse selection C) bank run D) sovereign debt crisis
Why is trade an important source of economic progress?
a. It allows the trading partners to produce a larger joint output through specialization in the areas where they have a comparative advantage. b. It allows the trading partners to produce a larger joint output as the result of greater realization of cost reductions that accompany the adoption of mass production methods. c. It makes it possible to realize gains from the discovery and dissemination of innovative products and production processes. d. All of the above are correct.
The source of all four classic hyperinflations was high rates of money growth
a. True b. False Indicate whether the statement is true or false
Which of the following are the constituents of the Balance of Payments?
(a) Current account, primary account and general balance. (b) Current account, capital account and financial account. (c) Trade account, merchandise account and overdrafts. (d) Financial account, income tax and VAT.