When you buy a taco for breakfast, you are using money as a
A) store of value.
B) standard of deferred payment.
C) medium of exchange.
D) unit of accounting.
C
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William J. Clinton (1993–2001) was the first U.S. president since the Great Depression to increase taxes to try to reduce the federal budget deficit
Indicate whether the statement is true or false
If GDP in year 1 is the same dollar amount as the GDP in year 2, does it follow that Real GDP in year 1 is the same as Real GDP in year 2?
A) Yes, since prices must necessarily be the same in the two years. B) No, since equal GDP figures do not account for population. C) No, since prices may not be the same in the two years. D) Yes, since equal GDP figures do account for a change in the quality of goods produced in the two years. E) none of the above
An analysis approach that considers the relationship of a proposed policy to social objectives is called ...
a. Contingent valuation b. Cost-effectiveness analysis c. Hedonic pricing d. Positional analysis e. Risk aversion
A natural monopoly
A. usually arises when there are large economies of scale. B. involves multiple firms selling differentiated products. C. is derived from deposits of natural resources. D. requires government licensing initially.