Money is each of the following except
A) a medium of exchange.
B) a store of value.
C) a means by which the central bank can always, and permanently, affect production.
D) a unit of account.
C
You might also like to view...
Dr. Khan starts his own dental practice after quitting his $150,000 job at The Mall Dental Clinic. His revenues for the first year are $500,000
He paid $90,000 in rent for the dental office, $60,000 for his office manager's salary, $24,000 for the dental hygienist, $150,000 for insurance, and $6,000 for other miscellaneous costs. The normal profit from running his business is $20,000. Which of the following statements is true? A) His accounting profit is $350,000. B) His economic profit is $150,000. C) His economic profit is zero. D) His accounting profit is zero. E) None of the above answers is correct.
If an increase in the price of good X leads to a decrease in the demand for good Y, then:
A. good X is a normal good and good Y is an inferior good. B. good X and good Y are normal goods. C. good X and good Y are substitutes. D. good X and good Y are complements.
All but one of the following have been suggested by some economists as possible consequences of path dependency and switching costs. Which of the following is not a possible consequence of path dependency and switching costs?
A) Consumers may get locked into using products with inferior technology. B) market failure C) diseconomies of scale D) Government intervention may be necessary in affected markets in order to improve economic efficiency.
During 2016, Yolanda's assets equal $400,000 and her liabilities were $550,000. Yolanda's net worth is
A. -$150,000. B. $150,000. C. $475,000. D. $950,000.