The most important function of money is to
A) allow for positive interest rates.
B) enable people to measure their own personal worth.
C) facilitate the collection of taxes.
D) encourage greed among people.
E) serve as a medium of exchange.
E
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If the demand curve shifts but the supply curve does not and price remains the same, supply must be perfectly inelastic
a. True b. False
The benefit principle is the idea that people should pay taxes based on the benefits they receive from the services those taxes provide
a. True b. False Indicate whether the statement is true or false
If robotics and factory automation become more widespread in an industry and all else is held constant:
A. both the demand for labor in that industry and the wage rate should decrease. B. the demand for labor should increase in that industry and the wage rate should decrease. C. both the demand for labor in that industry and the wage rate should increase. D. the demand for labor should decrease in that industry and the wage rate should increase.
What is the opportunity cost of investing $10,000 of your own money into a business you wish to start?
What will be an ideal response?