When money is used to set the value of goods such as cars, and TVs, money is serving as a:
A. unit of account.
B. medium of exchange.
C. store of wealth.
D. unit of wealth.
Answer: A
You might also like to view...
If a monopoly is operating along the portion of its demand curve where marginal revenue is positive, its
A) total revenue increases when price decreases. B) total revenue decreases when price decreases. C) total revenue remains the same when price decreases. D) total revenue is zero.
The financial sector of an economy includes which of the following components?
A) strengthening payment systems and regulatory agencies B) strengthening financial sector institutions C) attracting global capital and domestic savings D) both A and B
The additional revenue associated with hiring one additional unit of some factor input, such as labor, is called
A) marginal cost. B) marginal revenue product. C) marginal factor cost. D) marginal physical product.
Part of the normal aftermath of a period of excessive aggregate demand is
A. improvement in the quality of life. B. reflation. C. real GDP growth. D. stagflation. E. All of these responses are correct.