Non-liquid assets could perform which of the following functions?
A. Trade without bartering
B. Medium of exchange
C. Cash for transactions
D. Store of value
Answer: D
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A production indifference curve shows all combinations of input quantities capable of producing a given quantity of output.
Answer the following statement true (T) or false (F)
The long-run supply curve of a market for eggs is perfectly inelastic
Indicate whether the statement is true or false
If managers at a firm were rewarded for meeting production quota, then:
A. all managers would just meet the quota. B. all managers would exceed the quota. C. some managers would rebel and not meet the necessary quota. D. some managers would just barely exceed the quota.
New college graduates still looking for their first jobs would be classified in the BLS data as:
A. Frictionally unemployed B. Not yet in the labor force C. Cyclically unemployed D. Part of structural unemployment