Money is
What will be an ideal response?
Whatever is generally used to pay for goods, services, and resources
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Suppose the demand for gourmet coffee can be represented by a linear demand curve. At the prevailing market price the income elasticity of demand for gourmet coffee is 2. When income rises the demand curve for gourmet coffee:
A) becomes less elastic at every price. B) becomes less elastic at the price that prevailed before the change in income C) becomes more elastic at every price D) becomes more elastic at the price that prevailed before the change in income
One of the drawbacks of horizontal fracking is that it drew workers from other industries to the fracking industry
a. True b. False Indicate whether the statement is true or false
In 2010, the net national debt was about $9 trillion or approximately $29,000 per person
a. True b. False Indicate whether the statement is true or false
An increase in the value of one currency relative to another is referred to as:
A. Currency appreciation. B. Currency depreciation. C. Terms of trade. D. Comparative advantage.