A unit of account
A) is a type of accounting of how many currency units there are in an economy.
B) is an accounting of the total units of goods and services produced in an economy.
C) is an agreed measure for stating the prices of goods and services in an economy.
D) is a type of value stored within all assets.
C
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A public good is ________ and ________
A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable
U.S. prices are considered stable only when the Consumer Price Index
a. falls. b. moves 10 percent or less in a year’s time. c. moves 2 percent or less in a year’s time. d. remains unchanged.
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are shown in the table, if Ernie sets the agenda which option would he see was voted on first?
A. Computer lab and gym B. Library and lab C. Gym and library D. It doesn't matter which options are considered first.
The pizza delivery industry is monopolistically competitive. Little Joe's Pizzeria raises its prices by 10%, but all the other pizzerias in town keep their prices the same. Which of the following is most likely to occur?
A. Little Joe's Pizzeria will lose some of its customers. B. Little Joe's Pizzeria will not be able to sell any pizzas, because it was the only firm to raise its price. C. Little Joe's Pizzeria's profits will increase. D. The number of customers served by Little Joe's Pizzeria will increase.