The property that makes money a good medium of exchange and a good store of value is the
A. unlimited supply of money.
B. asset demand for money.
C. transactions demand for money.
D. liquidity property of money.
Answer: D
You might also like to view...
According to this Application, the decline in population resulting from the Black Death caused the ________ curve for labor to shift to the ________
A) supply; left B) demand; right C) supply; right D) demand; left
Cindy's Sweaters' production function is shown in the above table. Cindy rents two knitting machines for $30 a day each and hires workers at a wage rate of $40 a day. If Cindy produces 18 sweaters per day, what is her total cost?
A) $120 B) $140 C) $180 D) $60
Mrs. Smith operates a business in a competitive market. The current market price is $8.50 . At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25 . Mrs. Smith should
a. shut down her business in the short run but continue to operate in the long run. b. continue to operate in the short run but shut down in the long run. c. continue to operate in both the short run and long run. d. shut down in both the short run and long run.
An asset is liquid if it
A. is of intrinsic value. B. can be exchanged for other goods and services. C. can be obtained or disposed of without losing much of its nominal value. D. is a store of value.