Money is any commodity or token that is
A) issued by the government.
B) backed by gold.
C) generally accepted as a means of payment.
D) a store of value.
E) generally accepted as a means of measurement.
C
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Suppose that newspaper companies are now required to use recycled paper, which is more expensive than new paper. Which of the following is most likely to result if the newspaper industry is highly competitive?
A) The firms' costs rise, resulting in positive economic profit in the short run and, hence, the industry supply curve shifts rightward in the long run. B) The firms' costs rise, resulting in economic losses in the short run and, hence, the industry supply curve shifts rightward in the long run. C) The firms' costs rise, resulting in economic losses in the short run and, hence, the industry supply curve shifts leftward in the long run. D) The industry supply curve shifts leftward in the short run, causing permanent long-run economic losses.
Which of the following would generate a supply of euros in exchange for dollars?
What will be an ideal response?
If the Lorenz curve becomes more outwardly bowed, it is also true that the number of families living in poverty:
A. must have risen. B. must have remained the same. C. could have risen or fallen. D. must have fallen.
In which of the following ways can a corporation raise new funds for investment? I. Issuing new shares of stock II. Having existing stock resold between two owners
A) I only B) II only C) Both I and II D) Neither I nor II