If whole tomatoes were money, which of the following functions of money would be the hardest for tomatoes to satisfy?
A) medium of exchange B) store of value
C) certificate of gold D) unit of account
B
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"The distribution of income should be determined by the government" is an example of a normative economic statement
Indicate whether the statement is true or false
Explain and show graphically the effect of an increase in the expected inflation rate on the equilibrium exchange rate, everything else held constant
What will be an ideal response?
What is one reason a gambler might bet $1,000 that a sixteenth seed team will win the NCAA basketball tournament?
A) irrationality B) overconfidence C) exuberance D) gambler's fallacy
The aging of the U.S. population has tended to ________ spending on health care, and the development of new drugs and medical equipment has tended to ________ spending on health care
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease