Compared to an electronic payments system, a payments system based on checks has the major drawback that
A) checks are less costly to process.
B) checks take longer to process, meaning that it may take several days before the depositor can get her cash.
C) fraud may be more difficult to commit when paper receipts are eliminated.
D) legal liability is more clearly defined.
B
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Inflation isn't costly just because prices are going up. After all, inflation means salaries and wages are going up as well. If higher prices are not the problem, discuss two important aspects of inflation that are costly
The supply curve of a human resource will be more elastic the
a. easier it is to obtain the skill and knowledge necessary to provide the resource. b. more elastic the demand for the product. c. more inelastic the demand for the product. d. higher the skill level necessary to perform the job.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to rise. b. M2 money supply to rise. c. M2 money multiplier to remain the same. d. M2 money multiplier to fall.