When we keep part of our wealth in a bank checking account, we are using money as a ________ because ________
A) store of value; we are holding the money to exchange for goods at a later time
B) medium of exchange; we are holding the money to gain interest earned
C) barter token; we are holding the money to exchange for goods at a later time
D) unit of account; we are holding the money to exchange for goods at a later time
E) unit of currency; we have agreed upon the value of the money with bank
A
You might also like to view...
If the savings rate in an economy is 30%, and the GDP of the economy is $1,000, then the level of investment in the economy will be:
A) $330. B) $150. C) $600. D) $300.
Suppose the economy is experiencing a recessionary gap. In the long run, if aggregate demand does not change, the following events happen: the money wage rate ________, unemployment ________, and the price level ________
A) falls; rises; falls B) falls; falls; falls C) rises; rises; rises D) rises; falls; rises
Electricity pricing that varies in its billing expense throughout the day is called
a. marginal cost pricing b. variable pricing c. full cost pricing pricing d. marginal pricing e. dynamic pricing
If firms in a monopolistically competitive market are earning positive profits, then
a. firms will likely be subject to regulation. b. barriers to entry will be strengthened. c. some firms will exit the market. d. new firms will enter the market.