The unit of account function of money refers to the
A) fact that money and income are the same thing.
B) common denominator of measurement provided by money.
C) characteristic that all money is intrinsically valuable.
D) all of the above
B
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A movement along the consumption function is the result of a change in
A) consumer wealth. B) income. C) autonomous consumption. D) expected wealth.
A depreciation of the U.S. dollar relative to the euro would tend to
A) increase U.S. imports from Germany. B) increase U.S. exports to Germany. C) decrease U.S. exports to Germany. D) increase both U.S. imports from Germany and U.S. exports to Germany.
Which of the following can expand the production possibilities frontier?
a. Improved patent laws b. Legal reforms that increase transaction costs c. Reductions in the length of patent protection d. Stringent tax laws for R&D companies e. The advent of a labor deepening technology
Each of the following is an example of capital, except
A. an office building. B. gold. C. an assembly line. D. a computer system.