When money is used to set the value of goods such as cars, VCRs and TVs, money serves as a
a. Store of Value.
b. Medium of Exchange.
c. Standard of deferred payment.
d. Unit of account.
e. None of the above.
.D
You might also like to view...
The Consumer Price Index measures the average prices paid by
A) businesses for a fixed market basket of resources. B) urban consumers for a fixed market basket of goods and services. C) businesses and consumers for a market basket of goods and services. D) urban consumers for the goods and services that most frequently change in price. E) businesses for the most frequently used basket of resources.
Refer to Figure 16.5 below. If the marginal cost of underreporting can be written as MC = X 2 +
(A) What is the maximum marginal tax level (t) possible that will ensure tax evasion is zero?
(B) If the Marginal Tax rate is equal to 0.56, how much income will be evaded?
Who most clearly gains from a tariff on imports?
a. Consumers in the importing country b. Producers in the exporting country c. The government in the exporting country d. Producers in the importing country
Amanda talks with several different brokers at a social gathering. She hears the following advice from brokers A, B, and C. Which broker, if any, gave her incorrect advice?
a. Broker A: "There are risks in holding stocks, even in a highly diversified portfolio.". b. Broker B: "Portfolios with smaller standard deviations have lower risk.". c. Broker C: "Stocks with greater risks offer lower average returns.". d. They all gave her correct advice.