Because money __________________, people are _________________ likely to specialize in their work in a money economy
A) is a store of value; less
B) eliminates the double coincidence of wants; more
C) is a unit of account; more
D) eliminates the need for holdings of precious metals; more
B
You might also like to view...
According to classical theory, if the aggregate demand curve decreased and the economy experienced unemployment, then:
a. the economy would remain in this condition indefinitely. b. the government must increase spending to restore full employment. c. prices and wages would fall quickly to restore full employment. d. the supply of money would increase until the economy returned to full employment.
Because a bank pays a lower interest rate on deposits than it charges on loans, it cannot fail
a. True b. False Indicate whether the statement is true or false
Exhibit 8-3 Cost per unit curves
If the price of the firm's product in Exhibit 8-3 is $1.50 per unit, which intersects AVC at point B, the firm should:
A. continue to operate because it is earning a positive economic profit. B. stay in operation for the time being even though it is making an economic loss. C. shut down temporarily. D. increase the price.
The Congressional Budget Office estimates that the ratio of publicly held debt to GDP will ________ by 2050 if no entitlement reforms are enacted
A) remain close to the current high level of 73% B) fall to only about 55% C) more than triple to about 250% D) rise to about 130%