When economists refer to the role of money as a unit of account, they mean that
A) most accounting systems reflect that goods are purchased with currency.
B) most accounting systems reflect that goods are purchased with checks.
C) money gives traders a way of measuring value in the economy.
D) money makes it possible for specialization to take place.
C
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Internal Controls
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Anna, a U.S. citizen, works only in Germany. Where is the value she adds to production in Germany included?
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Holding all else constant, an increase in the real interest rate on Mexican assets will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase
Cyrus is deciding whether to purchase a home. Which of the following would be considered an autonomous factor in his decision?
a. whether or not he will receive a raise this year b. how much money will be taken out of his paycheck this year for taxes c. whether he expects the economy to “do well” this year d. how much disposable income he expects to have this year