When an asset is used as a universal yardstick that is used for expressing the worth of different goods and services, it is serving the function of a ________
A) unit of account B) medium of exchange
C) store of value D) loanable fund
A
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If ABC Printing is producing an output level of 100, where MR is $5 and MC is $3, then the firm is:
a. maximizing total profit. b. making too much profit. c. making $200 total profit. d. making $200 total loss. e. making an unknown amount of profit or loss.
If a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public parks and the zoo was the first pair to be voted on, which option would win overall?
A. Public transportation
B. Public zoo
C. Public parks
D. Both Public parks and zoo.
In the U.S., the organization that is responsible for monetary policy is
a. the Congress. b. the President. c. the Federal Reserve. d. a cartel of private banks. e. the Supre
One of the conditions that must exist for the median-voter theorem to hold is:
A. candidates win by majority vote. B. voters may vote for a policy even if it not close to their own beliefs. C. there must be a run-off election in the event of a tie vote between two or more candidates. D. there is a simple in-favor/not-in-favor position held by each candidate.