Money is almost always used to quote prices. This illustrates the function of money as a
a. medium of exchange.
b. store of value.
c. unit of account.
d. commodity value.
c
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If the interest rates in the Eurozone increase, then which of the following is likely to happen?
(a) Deposits would increase in American banks. (b) Money would flow into the European banking system. (c) The euro would tend to depreciate relative to the dollar. (d) None of the above.
Spot market is to futures market as
A) rice is to beans. B) today is to tomorrow. C) squares are to circles. D) quarters are to dollars.
If demand is inelastic and the government decides to raise the tax on water, the price of water will increase by a ________ amount and water consumers will bear a ________ share of the tax.
A. large; large B. large; small C. small; large D. small; small
A goldsmith has 100 gold coins in his safe and 100 receipts circulating. How much are his outstanding loans?
What will be an ideal response?