Suppose prices are quoted in dollars and transactions are conducted in pesos. The dollar serves as a
A) medium of exchange.
B) store of value.
C) unit of account.
D) all of the above.
C
You might also like to view...
Use the following data to answer the next question.OutputATC-AATC-BATC-C10$6$13$442059353046274054205073146010411701458801976902510510032167The letters A, B, and C designate three successively larger plant sizes. In the long run, the firm should use plant size "A" for the production of
A. all possible levels of output. B. all levels of output greater than or equal to 40. C. 10 to 30 units of output. D. 30 to 60 units of output.
Suppose there are two firms in a market: firm A and firm B. Further, assume that they produce a homogenous product at a constant marginal cost of $10. In the Bertrand model solution, firm A will charge a price
A. smaller than firm B. B. greater than $10. C. greater than firm B. D. equal to $10.
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5P. If this economy opens to trade while the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic equilibrium quantity of cars will be ________.
A. 12,000 B. 6,000 C. 10,000 D. 8,000
Estate and gift taxes account for a very small portion of total tax revenues collected by the federal government because taxes are levied only on large estates.
Answer the following statement true (T) or false (F)