Money serves as ________
A) a unit of account
B) a store of value
C) a medium of exchange
D) all of the above
E) none of the above
D
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Which of the following is not an important contribution of the agricultural sector to overall development:
a. increasing national food supplies b. permitting foreign exchange earnings through imports c. allowing excess labor to flow to urban areas d. providing savings for industrial investment e. increasing the demand for manufactured goods g. All of the above are important contributions.
People have a strong incentive to form rational expectations because
A) they are guaranteed of success in the stock market. B) it is costly not to do so. C) it is costly to do so. D) everyone wants to be rational.
What is the difference between the short run and the long run as economists define the two?
If baked potatoes and sour cream are complements, then an increase in the price of sour cream decreases the demand for baked potatoes
a. True b. False Indicate whether the statement is true or false