If something is a store of value, then a necessary condition is that it must
a. serve as a yardstick for measuring the value of other goods
b. have a means of holding its value for future use
c. be convertible into gold
d. be a precious metal, such as gold or paper money
e. be accepted as payment for any purchase
B
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To increase the money supply
A) the Federal Reserve should sell government securities. B) the Federal Reserve should reduce its loans to banks. C) the Federal Reserve should buy government securities. D) the commercial banks should reduce their loans.
Walter Raleigh was an explorer from _____
a. England b. France c. Holland d. Portugal e. Spain
What does a market do poorly?
A. Incentivize individuals to efficiently use society’s resources B. Price labor based actually on marginal productivity C. Promote equal income distribution D. Allocate resources to their highest value uses
If the most someone is willing to pay for an airline ticket to Las Vegas is $300 and the market price of the ticket is $200, then this buyer will get consumer surplus of
A. $100. B. $200. C. $300. D. $500.