Money is:
A. the set of all assets that are regularly used to directly purchase goods and services.
B. represented only by the amount of dollars and coins in our economy.
C. controlled by the supply and demand of goods and services on which our money is spent.
D. anything that we use to buy goods and services as long as it is not a good itself.
A. the set of all assets that are regularly used to directly purchase goods and services.
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Explain why the demand for loanable funds slopes downward and why the supply of loanable funds slopes upward
When demand is unit elastic, a decrease in price will result in no change in total revenue.
Answer the following statement true (T) or false (F)
Disposable income is National income
A) less taxes collected from households and firms by the government. B) plus net taxes collected from households and firms by the government. C) less net taxes collected from firms by the government. D) less net taxes collected from households by the government. E) less net taxes collected from households and firms by the government.
The study of how people work together to transform resources into goods and services to satisfy their most pressing wants is
a. sociology b. economics c. psychology d. anthropology e. management