When you toss your spare quarters into a jar so you can use them later at the laundromat, you are using money in its function as a
A) medium of exchange.
B) unit of account.
C) store of value.
D) record keeping device.
C
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The figure above shows Ronald's budget line. He has a weekly income of $20 and he spends it on hot dogs and hamburgers. The relative price of a hamburger is ________
A) 1/2 hot dog B) 5 hot dogs C) $20 D) 2 hot dogs
"The problem with a common resource is that no one gets to use the resource." Comment on the preceding assertion
What will be an ideal response?
Medicare subsides will cause people to
A) consume less medical services than in the absence of the subsidies. B) consume more medical services than in the absence of the subsidies. C) consume the same amount medical services as they would if there were no subsidies. D) be sicker because of inferior care.
Normative economics
What will be an ideal response?