Stock market price quotations are an example of money serving as a(n)
A. unit of accounting.
B. store of value.
C. medium of exchange.
D. economic value.
Answer: A
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An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
A new Mexican restaurant opens in the city of Manchester. The residents are happy about this new restaurant because they are experiencing what externality?
Holding other factors constant, if employers automatically enroll employees in retirement savings programs in order to overcome psychological barriers to saving, then the real interest rate will ________ and the equilibrium quantity of saving and investment will ________.
A. increase; decrease B. increase; increase C. increase; not change D. decrease; increase
Refer to the figure above. If the profit-maximizing quantity of labor hired by the firm is 40 hours, the market wage rate must be ________
A) $2 per hour B) $5 per hour C) $7 per hour D) $8 per hour