Subject to a few legal and practical restrictions, anything may be exchanged for anything else. The distinctive advantage of money is that ________
A) it is likely to retain its value, whether it is kept or exchanged
B) it has little, if any, use other than exchange
C) it can generate income while it is kept
D) it is likely to be accepted by everyone in exchange for anything
E) none of the above
D
You might also like to view...
A price ceiling in the market for gasoline that is below the equilibrium price will lead to
A) the quantity demanded of gasoline exceeding the quantity supplied. B) an increase in the demand for gasoline. C) a decrease in the supply of gasoline. D) the quantity supplied of gasoline exceeding the quantity demanded. E) no change in the market since the price ceiling is below the equilibrium price.
The average product of a variable input is calculated as:
A) total product divided by total output. B) the change in total product divided by the change in the variable input. C) total product divided by the change in the variable input. D) total product divided by the total quantity of the variable input.
Receipt of foreign aid permits less-developed countries to move to a point outside their production possibilities curve
a. True b. False Indicate whether the statement is true or false
If a price ceiling of $5 per gallon is imposed on gasoline, and the market equilibrium price is $4.50, then the price ceiling is a binding constraint on the market
a. True b. False Indicate whether the statement is true or false