Although checking deposits are considered money, they are actually
A. fictitious numbers in persons’ checkbooks.
B. backed by commodities like gold.
C. not very useful for making payments.
D. bookkeeping entries in bank balance sheets.
Answer: D
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What is production technology?
What will be an ideal response?
The basic difference between macroeconomics and microeconomics is:
a. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade. b. microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms. c. microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy. d. microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.
A price floor set above the equilibrium price is binding
a. True b. False Indicate whether the statement is true or false
One way to differentiate products that are similar to each other is to offer _______________, such as free shipping or a rebate.
a. ephemeral benefits b. unquantifiable aspects c. transient benefits d. intangible aspects