Money serves as a medium of exchange, which means:
a. it acts as an intermediary between the buyer and the seller.
b. it will still hold its value.
c. it is the ruler by which other values are measured.
d. it must also be acceptable to make purchases today that will be paid in the future.
a. it acts as an intermediary between the buyer and the seller.
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Quantify the cost savings associated with a cost-effective abatement allocation achieved through trading.
Suppose two point sources are discharging phosphorus into Wisconsin’sFox River and face the following abatement costs for this pollutant: Point Source 1: TAC1 = 500 + 0.35(A1)2 MAC1 = 0.7A1 Point Source 2: TAC2 = 750 + 1.05(A2)2 MAC2 = 2.1A2, where A1 and A2 represent the abatement of phosphorus effluents in pounds by Source 1 and Source 2, respectively, and TAC and MAC are measured in hundreds of dollars. Assume that the state environmental authority has set the total maximum daily load (TMDL) for the Fox River. To achieve this limit, 40 pounds of phosphorus must be abated across the two point sources. Use this information to answer the following questions.
If the price of an existing bond increases, the current yield increases.
Answer the following statement true (T) or false (F)
During the early 1930s there were a number of bank failures in the United States. What did this do to the money supply? The New York Federal Reserve Bank advocated open market purchases. Would these purchases have reversed the change in the money supply and helped banks? Explain
According to utility? theory, consumer purchase decisions are made such that
A. the total utility from consuming the good is less than the marginal utility of the last unit consumed. B. the total utility of the last unit purchased is equal to the price of that unit. C. the difference between the value of the marginal utility of the last unit purchased and the price paid is maximized. D. the value of the ratio of marginal utility to price for the last units purchased and consumed is equal.