Which of the following defines the "unit of account" function of money?
a. A common measurement of the relative value of different goods and services.
b. The ability of money to hold value over time.
c. The materials used to manufacture money are of medium grade or quality, so that people will not hoard money for its commodity value.
d. Money is widely accepted in exchange for goods and services.
a
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Increasing marginal returns to labor
A) occur when a particularly efficient worker is employed. B) describe the portion of a total product curve where the marginal product is negative. C) mean that two workers produce less than twice the output of one worker. D) are the result of specialization and division of labor in the production process. E) occur only when there are increasing marginal returns to capital.
Government corruption reduces economic growth around the globe, most commonly through widespread cash payments or gifts to receive a government service
Indicate whether the statement is true or false
Non-interventionists include all of the following, EXCEPT
A. new classical economists. B. supply-side economists. C. Keynesian economists. D. monetarists.
when a worker takes on additional employment but is moved into a higher tax bracket and pays a higher tax rate
What will be an ideal response?