Credit cards are
A. not money.
B. not money, because they can't be used to purchase goods and services.
C. considered to be money.
D. counted as a part of M2 but not M1.
Ans: A. not money.
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Unlimited liability applies
a. to partnerships and sole proprietorships b. only to partnerships c. only to sole proprietorships d. only to corporations e. to corporations and partnerships
Identify the correct formula for the GDP price index
a. Normal GDP x 100Real Prices b. Real Prices x 100Nominal GDP c.Nominal GDP x 100Real GDP d.Real GDP x 100Nominal GDP
Knowing that most people do not care to be outliers, one way to get people to behave a certain way is to:
A. let them know it is a social norm to behave that way. B. encourage the behavior of the majority. C. tell them everyone else does it. D. All of these statements are true.
People acting in their own self interest is the basis of the
A) principle of voluntary exchange. B) principle of scarcity. C) real-nominal principle. D) principle of supply and demand.