When you set aside the money you have today in order to purchase goods and services later on, you are using money as a
A. medium of exchange.
B. unit of accounting.
C. standard of deferred payment.
D. store of value.
Answer: D
You might also like to view...
An exchange rate crisis is caused by
A) a sudden and an unexpected collapse in the value of a nation's currency. B) the inability of the IMF to predict the immediate collapse of the currency of a country. C) the adoption of a flexible exchange rate system by a country or group of countries. D) the adoption of a fixed exchange rate system by a country or group of countries. E) Both C and D are correct.
In a floating exchange rate system, an increase in the value of the exchange rate could be caused by
a. an increase in taxes. b. an decrease in government spending. c. a decrease in the domestic money supply. d. a decrease in exports.
Assuming a firm would not survive without protection, what should the government do if the present value of the profits and value added from operating an infant industry firm exceed the deadweight loss of imposing protection?
a. It should impose the tariff—the gains exceed the losses. b. It should not impose the tariff—the losses exceed the gains. c. If it imposes the tariff, it may actually create more problems that cannot be foreseen—do not impose the tariff. d. The government should just ban all imports of that product until the "infant" is able to compete on its own.
Average variable cost equals:
A. total fixed cost plus total variable cost. B. average total cost minus average fixed cost. C. average total cost plus average fixed cost. D. total cost minus average cost.