Rising prices erode the value of money as a ________ and as a ________
A) store of value; unit of liquidity B) medium of exchange; store of value
C) store of value; unit of barter D) unit of barter; unit of account
B
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The theory of comparative advantage is credited to
A. Adam Smith. B. Milton Friedman. C. John Maynard Keynes. D. David Ricardo.
The base year is the year
A) in which prices are unstable. B) in which prices are lowest. C) in which prices are highest. D) that serves as a reference point or benchmark. E) in which nominal output is largest.
One way for governments to try and minimize the effects of structural unemployment is to:
A. subsidize retraining programs. B. mandate employers cannot fire anyone. C. increase unemployment benefits. D. All of these are ways that would minimize the effects of structural unemployment.
Explain the two stabilization policies politicians use to smooth business cycles
Please provide the best answer for the statement.