Sheena gets her paycheck on the first day of every month and spends it over the month to purchase various goods and services. What are the functions that money is performing in this case?
What will be an ideal response?
Since Sheena is using money as means to purchase goods and services, it is acting as a medium of exchange. Moreover, she receives her salary on the first of every month and spends it over the month. This implies, money is also acting as a store of value.
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
The disposal and settlement of the public lands, according to Hughes and Cain (2011),
(a) went pretty much, in practice, as Jefferson had envisioned. (b) had both intended and unintended consequences. (c) occurred in an orderly and efficient manner for the most part. (d) was adequately funded and well-organized in execution.
Which round of GATT first addressed subsidies?
What will be an ideal response?
Refer to the diagrams. Other things equal, an interest rate reduction coupled with a rightward shift in curve A will:
A. shift curve B upward.
B. shift curve B downward.
C. have no effect on curve B.
D. reduce GDP.