What is the motivation for individuals to hold money?
A. to reduce risk
B. to have liquidity
C. to facilitate transactions
D. All of these
Answer: D
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As a unit of account, money is used
A) to hold purchasing power over time. B) to define prices of all other goods. C) to pay off future debts. D) to exchange for goods and services.
If both rich and poor families pay 25 percent of their income in taxes, the tax scheme is ________
A) proportional B) regressive C) negative D) progressive
According to the table shown, what can be said about the cost of living in 2010?
A. It was lower than in the base year.
B. People experienced a decrease in the cost of living because the CPI is less than 100.
C. People experienced an increase in the cost of living because the CPI isn't over 100.
D. There must have been a recession because the CPI is less than 100.
Games with a negative-negative outcome:
A. must have a noncooperative equilibrium. B. result from players acting in their own self-interest. C. are not necessarily the best outcome for the players involved. D. All of these statements are true.