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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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.
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.