While money is an asset not all assets are money because:
A. only money is a good asset to hold during times of inflation.
B. money must be legal tender.
C. only money stores value.
D. money works as a means of payment.
Answer: D
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The elasticity of demand for a project is -1.5. This means that a 30 percent increase in the quantity of the good is caused by a
A. 20 percent increase in the price of the good. B. 2 percent increase in the price of the good. C. 20 percent decrease in the price of the good. D. 15 percent decrease in the price of the good.
What is job search and what is the relationship between job search and unemployment? What factors can affect the amount of job search? Briefly discuss the effect of each factor
What will be an ideal response?
According to the “law” of demand, we would expect
A. the demand curve to be negatively sloped. B. the demand curve to be positively sloped. C. the total quantity demanded by the market to move in the same direction as price. D. marginal utility to increase as quantity demanded increases.
Refer to Scenario 1 . Assume this economy could either be at Point B or Point C. From which of these points is it more costly to produce more crabs? Explain your answer
What will be an ideal response?