The functions of money are
A) medium of exchange, unit of account, and store of value.
B) medium of exchange, the ability to buy goods and services, and the ability to pay off debts.
C) medium of exchange, the ability to buy goods and services, and checking accounts.
D) credit cards, checking accounts, currency, and coins.
E) store of value, use as a barter mechanism, and unit of account.
A
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When gross investment is positive, net investment ________.
A. must be positive B. is always zero C. may be either positive or negative D. must be negative
A variable is a factor that:
A) cannot be measured. B) is not affected by changes in other factors. C) is independent and cannot be determined. D) takes different values at different points of time.
If you are considering buying either an Apple Watch or a Samsung Gear S2, and you choose the Samsung only because the price is lower, then you consider
A) the Apple Watch and the Samsung Gear S2 to be substitutes. B) the Apple Watch and the Samsung Gear S2 to be complements. C) the Apple Watch to be a normal good and the Samsung Gear S2 to be an inferior good. D) the Apple Watch to be an inferior good and Samsung Gear S2 to be a normal good.
The development of new technology typically:
A. shifts the supply curve to the right. B. reduces profits. C. results in a downward movement along a supply curve. D. shifts the demand curve to the right.