In economics, money is defined as
a. the total value of one's assets in current prices.
b. the total value of one's assets minus the total value of one's debts, in current prices.
c. the total amount of salary, interest, and rental income earned during a year.
d. any asset people generally accept in exchange for goods and services.
d. any asset people generally accept in exchange for goods and services.
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Once the United States Civil War broke out, the United States moved to a
A) gold standard. B) silver standard. C) bimetallic monetary standard consisting of silver and gold. D) bimetallic monetary standard consisting of copper and gold. E) paper currency, called the "greenback."
Grace has just eaten a slice of pizza and says it gave her a utility of 8. If she chooses to eat a second slice:
A. she will experience a drop in total utility. B. she is not acting rationally. C. she will experience an increase in total utility. D. None of these is true.
The greater the consumer's reluctance to shift brands, the lower the price elasticity of demand
a. True b. False Indicate whether the statement is true or false
The Temporary Assistance for Needy Families (TANF) program _____.
(A) Provides benefits to a family for ten years. (B) Can only provide jobs for individuals in an enterprise zone. (C) Only provides cash assistance to poor families. (D) Provides work in exchange for temporary assistance.