Whether you are studying the money economy of the U.S., Pakistan, China, or the Federated States of Micronesia, the characteristics that money must have include
a. portability, durability, and flexibility
b. durability, flexibility and readily acquired
c. durability, portability, and heterogeneity (nonhomogeneous)
d. portability, durability and relative scarcity
e. portability, homogeneity, and flexibility
D
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A government policy of providing job training for unskilled youths is an example of a policy to promote economic growth by:
A. increasing the availability of natural resources. B. improving technology. C. increasing physical capital. D. increasing human capital.
How do decreasing returns to scale affect the shape of the long-run average cost curve?
What will be an ideal response?
Refer to the above figure. Assume that only two goods can be produced in the economy. Which of the following statements is TRUE?
A) Points a, b, and c are all obtainable points of production. B) Points a and b are obtainable points of production. C) Points b and c are obtainable points of production. D) Only point b is an obtainable and efficient point of production.
The United States has more income inequality than Brazil and South Africa
a. True b. False Indicate whether the statement is true or false