The most important function of money is when money is used as a
A) medium of exchange. B) unit of accounting.
C) standard of deferred payment. D) store of value.
A
You might also like to view...
Suppose the market for bottled water is served by two oligopolists. If they reach an agreement to restrict production and charge a price above marginal cost, then:
A. neither firm will have an incentive to cheat on the agreement since it benefits them both. B. their agreement is likely to eventually collapse. C. they will charge a higher price than a monopolist would have charged. D. they will earn a larger profit than a monopolist would have earned.
Government stabilization policy would be unnecessary if the economy automatically gravitated toward
A. full inflation. B. full employment. C. full recession. D. an inflationary gap.
What is the drop-in-the-bucket problem?
What will be an ideal response?
Over 90 percent of life insurance companies are structured as __________ companies. Over 50 percent of industry assets are controlled by companies structured as __________ companies
A) mutual, mutual B) mutual, stock C) stock, mutual D) stock, stock