Checkable deposits are money because they are:
Acceptable as payment
Fiat money
Token money
Legal tender
Acceptable as payment
You might also like to view...
The above figure shows the payoff to two gasoline stations, A and B, deciding to operate in an isolated town. Suppose a $30 fee is required to enter the market. If firm A chooses its strategy first, then
A) firm A will not enter. B) neither firm will enter. C) both firms will enter. D) firm A will enter and firm B will not.
Social Security payments are
a. included in GDP because they represent current income. b. included in GDP because they represent potential consumption. c. excluded from GDP because they are not private pensions. d. excluded from GDP because they do not reflect the economy's production.
Tammie makes $150 a day as a bank clerk. She takes off two days of work without pay to fly to another city to attend the concert of her favorite music group. The cost of transportation for the trip is $250. The cost of the concert ticket is $50. The opportunity cost of Tammie's trip to the concert is:
a. $450 b. $300 c. $600 d. $500
Is a monopolistically competitive firm productively efficient?
A) No, because it does not produce at minimum average total cost. B) Yes, because it produces where marginal cost equals marginal revenue. C) No, because price is greater than marginal cost. D) Yes, because price equals average total cost.