Money's medium of exchange function helps to compute the real value of labor

Indicate whether the statement is true or false


FALSE

Economics

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Gordon is a person who sells narcotics "on the street." This type of illegal activity ________.

A. causes GDP to be overstated B. is estimated and included in GDP figures C. is excluded from GDP figures D. would be considered double counting in calculating GDP

Economics

The law of demand implies that, other things remaining the same

A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase. B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease. C) as income increases, the quantity of cheeseburgers demanded will increase. D) as the demand for cheeseburgers increases, the price of a cheeseburger will fall.

Economics

Suppose a roll of paper towels costs $4 at Sam's Quick Stop, a local quick stop, and the same roll of paper towels costs $1 at Big Supplies, a large, retailer located in a more remote location. If a customer's total cost of travel to Sam's Quick Stop is $2 and is $6 to Big Supplies, which of the following is true?

A) The consumer is indifferent as to where they buy the paper towels. B) It is cheaper for the consumer to buy the paper towels at Big Supplies. C) It is cheaper for the consumer to buy the paper towels at Sam's Quick Stop. D) It is more expensive for the consumer to buy the paper towels at Sam's Quick Stop.

Economics

If (X ? IM) < 0, then capital inflows

A. will be zero. B. will be greater than zero. C. will be less than zero. D. can be zero, positive, or negative.

Economics