Ans: D) unit of account.
When money is used to express the value of goods and? services, it is functioning as a
A) medium of exchange.
B) store of value.
C) store of purchasing power.
D) unit of account.
Economics
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Which of the following will shift the aggregate demand curve to the right?
A. Income taxes are raised. B. Business managers become pessimistic about the future. C. The government increases spending on education. D. Consumers become pessimistic about the future.
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A local government would not be efficient in providing which of the following services?
A. International aid B. Police protection C. Fire protection D. Roads
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The authors cited statistical evidence that the price elasticity of demand for Royal Crown cola is -2.4, and the price elasticity of demand for Coke is roughly -5.5
Which firm likely has stronger brand loyalty among customers that provides greater potential for monopoly power in the cola market? A) Coke B) Royal Crown C) Both firms should have identical monopoly power D) We do not have enough information to answer this question.
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A closed shop is a business enterprise in which
A. employees cannot belong to a union when they are employed, and cannot join a union and keep working there. B. employees must belong to the union before they can be employed. C. employees must join the union to maintain employment. D. employees cannot belong to the union when they are hired, but may join the union later and keep their jobs.
Economics