When you pay $6 for breakfast burritos for your drive to work, you are using money as a(n)
A. medium of exchange.
B. investment good.
C. store of value.
D. unit of account.
Answer: A
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The government can aid in reducing pollution by using a policy of cap-and-trade, which means that polluters are taxed on the amount of pollution they discharge
Indicate whether the statement is true or false
The price elasticity of demand coefficient for a good will be greater:
a. if close substitutes exist. b. if minor complements exist. c. in the short-run. d. if a small portion of the budget will be spent on it.
Some colleges charge all students the same "activity fee.". Suppose that students differ by how many campus activities they engage in. This charge is most like
a. an excise tax which conforms to the benefits principle. b. an excise tax which violates the benefits principle. c. a lump-sum tax which conforms to the benefits principle. d. a lump-sum tax which violates the benefits principle.
The term "business cycle" refers to ________.
A) the periodic increases and decreases of the economy B) the periodic purchases of goods and services by the government C) the increases and decreases in the rate of inflation D) the periodic growth of the Federal Reserve system E) the periodic increases and decreases in the GDP due to seasonal factors