Money has replaced the need to barter, which is:
A. a certain amount of purchasing power that it retains over time.
B. something you can use to purchase goods and services.
C. something you can directly offer, like any good or service, in exchange for some good or service you want.
D. a standard unit of comparison.
C. something you can directly offer, like any good or service, in exchange for some good or service you want.
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In the United States, the poorest 20 percent of households receive about ________ percent of total income
A) 15 B) 20 C) 3 D) 49 E) 23
Which of the following is NOT held constant while moving along a supply curve?
A) expected future prices B) the number of sellers C) the price of the good itself D) prices of factors of production
Elena works as a housekeeping staff member in a hotel. Her task is to clean the rooms that are unoccupied by guests. Because it is not possible for her boss to monitor her work regularly, she often skips cleaning some of the rooms
a) What is the term used to refer to such behavior? b) How can the management motivate workers like Elena to work harder?
An open market purchase immediately impacts the banking system balance sheet by
a. increasing required reserves. b. increasing deposits. c. increasing the money multiplier. d. increasing excess reserves. e. none of the above.