Dollar bills, rare paintings, and emerald necklaces are all
a. media of exchange.
b. units of account.
c. stores of value.
d. All of the above are correct.
c
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Which of the following events could result in the consumption function shifting from CF0 to CF2?
A) an increase in disposable income B) an increase in expected future income C) a decrease in wealth D) a decrease in the real interest rate E) a decrease in disposable income The figure above shows two aggregate expenditure lines.
Resources are also referred to as outputs.
Answer the following statement true (T) or false (F)
Why is unemployment a problem?
What will be an ideal response?
Terry wants to sell his car and the lowest price he is willing to accept is $3,000 . Alice likes the car and is willing to pay at most $4,000 for it. They begin to negotiate to arrive at a price. Which of the following statements will be true?
a. They are playing a zero-sum game. b. The higher the price they agree on, the greater the benefit to both. c. The longer they take to arrive at an agreed price, the lower the benefit to them. d. They are playing a positive-sum game where their benefits add up to $1,000.