What is money? What are the three definitions of money in the United States?
What will be an ideal response?
Money is anything that serves as a medium of exchange, store of value and unit of account. The three definitions of the money supply in the United States are M1, M2 and M3.
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Suppose a new textbook sells for $100 at the college bookstore. The bookstore will buy it back at the end of the semester for $35, and sell then it used to somebody else for $75. Christina agrees to the deal, and pays $100
Once she buys the book, her sunk cost is A) $25. B) $35. C) $40 D) $65 E) $100.
If ration coupons are used to determine who gets the products available, what happens if the government allows individuals to trade them?
What will be an ideal response?
As the number of available substitutes for a good increases, the price elasticity of demand for the good will increase as well
Indicate whether the statement is true or false
A device used to measure the movement of stock prices is called a(n)
A) exchange B) index. C) network. D) bureaucracy.