The statement, "My Hello Kitty Limited Edition Vespa scooter is worth $5,500" represents money's function as a
A) medium of exchange.
B) store of value.
C) standard of value.
D) commodity.
C
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Inputs that can be increased or decreased in the short run are called
a. fixed inputs b. variable inputs c. economic inputs d. accounting inputs e. normal inputs
Consider the production possibilities frontier in the figure shown. The opportunity cost of moving from point A to point B is:
A. 5 cars per cigar.
B. 10 cars per cigar.
C. 5 cigars per car.
D. 10 cigars per car.
The unemployment rate is computed by the _____. This agency conducts a survey of _____.
Fill in the blank(s) with the appropriate word(s).
Net exports is equal to
A. total imports minus total exports. B. total exports minus total imports. C. total exports minus transfer payments. D. total exports adjusted for price changes.