The fungibility of money means that
A. the categories people create to organize their expenditures are meaningless in financial terms.
B. people often create false distinctions between categories of debt.
C. thinking large, one-time expenses should be paid off over a period of time, while everyday expenses should come out of your checking account, is irrational.
D. All of these statements are true.
D. All of these statements are true.
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The figure above shows Freda's PPF. Freda currently produces 10 packets of fudge and no cookies. If Freda decides to produce 1 packet of cookies, her opportunity cost of the packet of cookies is ________ of fudge
A) 1 packet B) 1/2 packet C) 2 packets D) 0 packets
The invention of the integrated circuit by Jack Kilby of Texas Instruments gave rise to the information age. What did this technological change do the short-run supply curve?
A) It moved the economy up along a stationary short-run aggregate supply curve. B) It shifted the short-run aggregate supply curve to the left. C) It shifted the short-run aggregate supply curve to the right. D) It moved the economy down along a stationary short-run aggregate supply curve.
What do developing countries want regarding agriculture in the Doha Round?
What will be an ideal response?
The size of the multiplier associated with an initial increase in spending will be:
A. the same whether or not inflation occurs. B. diminished if inflation occurs. C. zero if any increase in the price level occurs. D. enhanced if inflation occurs.