Money provides a way to transfer wealth into the future. This function of money is known as
A) medium of exchange. B) unit of accounting.
C) store of value. D) standard of deferred payment.
C
Economics
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The "currency" of the IMF is the
A) International Currency Unit. B) Special Drawing Right. C) U.S. dollar. D) IMF Dollar.
Economics
The above figure shows the demand and supply curves for high-skilled and low-skilled labor. The wage differential between high-skilled and low-skilled labor is
A) $4.00. B) $5.00. C) $6.00. D) $7.00.
Economics
Where a free-rider problem exists, goods tend to be: a. underproduced
b. overproduced. c. high-priced and available only to the rich. d. low priced and available only to the poor.
Economics
If price exceeds average total cost in the short run, then in the long run the market demand curve will shift to the right
a. True b. False
Economics