If every person is willing to accept money in payment, rather than goods and services, money serves as a:
a. medium of exchange.
b. unit of account.
c. store of value.
d. coincident exchange.
a
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If an average cost pricing rule is imposed on the natural monopoly shown in the figure above, then the price will be
A) $2. B) $4. C) $5. D) $6.
If a negative income tax system were implemented, then the poor would have no incentive to find work
a. True b. False Indicate whether the statement is true or false
You write a check to your landlord to pay the rent on your apartment. To your landlord, your check represents a. a claim to goods and services in the future. b. a good with intrinsic value
c. a double coincidence of wants. d. a good with immediate value.
Involuntary part-time workers are:
A. short-term unemployed workers. B. chronically unemployed. C. considered out of the labor force. D. not counted as unemployed.