If bananas were money, which of the following functions of money would be the most difficult for bananas to satisfy?
A) medium of exchange
B) store of value
C) standard of value
D) serving as a commodity
B
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Who was the first U.S. president to explicitly refer to the efficiency criterion as part of the regulatory review process?
a. President Clinton c. President Reagan b. President George W. Bush d. President Obama
In the above figure, if aggregate demand does not change, the long-run equilibrium will be at the price level of ________ and real GDP of ________
A) 100; $15.5 trillion B) 120; $16 trillion C) 100; $16 trillion D) 110; $15.5 trillion
One of the distinguishing characteristics of capital mobility today is that
A) there are far more kinds of financial instruments than there were 100 years ago. B) nations are no longer dependent on their own national savings for their investment funds. C) the bulk of foreign capital flows are tied to labor flows. D) foreign capital flows are better managed and rarely cause financial problems. E) currency markets play a less significant role than they did in the past.
Which of the following is true?
a. Monopolists, monopolistically competitive firms and perfectly competitive firms all earn positive economic profits in the long run. b. Monopolists, monopolistically competitive firms and perfectly competitive firms all earn zero economic profits in the long run. c. Only monopolists and monopolistically competitive firms, but not perfectly competitive firms, can earn positive economic profits in the long run. d. Monopolists, monopolistically competitive firms and perfectly competitive firms can potentially all earn positive economic profits in the short run.