Becca is buying school supplies. She sees that she can buy a 150-page notebook for $2.00 and a set of pens for $6.00. As a result, she knows that a set of pens has the same value as three notebooks. This comparison of value best demonstrates money’s function as a ______.
a. unit of account
b. means of deferred payment
c. medium of exchange
d. store of value
a. unit of account
You might also like to view...
Average physical product measures the output per unit of input
a. True b. False Indicate whether the statement is true or false
Suppose that the central bank must follow a rule that requires it to increase the money supply when the price level falls and decrease the money supply when the price level rises. If the economy starts from long-run equilibrium and aggregate demand shifts right, the central bank must
a. decrease the money supply, which will move output back towards its long-run level. b. decrease the money supply, which will move output farther from its long-run level. c. increase the money supply, which will move output back towards its long-run level. d. increase the money supply, which will move output farther from its long-run level.
The mergers between Sony and Columbia Pictures and between MCA and Matsushita are ________ mergers.
Fill in the blank(s) with the appropriate word(s).
A general mismatch between the skills of unemployed workers and the skills needed by employers with job openings results in:
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. a higher labor force participation rate.