Suppose you purchase a bottle of vitamin water with a price of $3. The price of $3 best reflects the function of money as a ________, and when you take $3 out of your wallet to purchase the bottle, money is functioning as a ________
A) medium of exchange; standard of deferred payment
B) store of value; unit of account
C) unit of account; medium of exchange
D) medium of exchange; store of value
C
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Which of the following antebellum transportation innovations earned the greatest rate of return?
a. corporate-owned turnpikes b. the National Road c. the Erie Canal d. the Mainline Canal
Suppose the price elasticity of demand of for soy beans is 0.85. When the price of soybeans rises by 20 percent, the quantity demanded of soybeans falls by approximately _____________ percent
A) 0.024 B) 26.67 C) 23.53 D) 17.00
If the CPI rises from 206.7 to 212.7 between two consecutive years, by how much has the cost of living changed between these two years?
A) The cost of living has increased by 6%. B) The cost of living has increased by 2.9%. C) The cost of living has increased by 12.7%. D) The cost of living has decreased by 6%.
Are restaurant coupons a form of price discrimination? Why or why not?
What will be an ideal response?