Money that we have today can be set aside to purchase things in the future. This function of money is known as
A) medium of exchange.
B) unit of accounting.
C) store of value.
D) standard of deferred payment.
C
You might also like to view...
Use the figure below to answer the following question.
The diagram shows three supply curves for apples today. Which of the following would cause the current supply of apples to shift from S1 to S3?
A. an increase in the number of corn farmers B. expectations of lower apple prices in the future C. a decrease in the price of apples in the market D. expectations of higher apple prices in the future
In the money market, if the quantity of money supplied exceeds the quantity of money demanded, the nominal interest rate will ________ and the prices of assets will ________
A) fall; increase B) rise; increase C) fall; decrease D) rise; decrease E) fall; not change
The fact that articles of clothing sold in Walmart are produced by very poorly paid workers in Honduras, is a fact that if taken into account
A) would prove to economists that the Ricardian model of comparative advantage is false. B) would prove to economists that the equal-value in trade concept summed up in the trade triangles is incorrect. C) proves to economists that trade is a negative sum game. D) proves to the Anti-Globalization Movement that trade is a negative sum game. E) proves that corporations are exempt from labor standards.
One reason why the smaller oligopolistic firms accept godfather pricing in unbalanced oligopoly is because they can
a. differentiate their products more fully in order to increase market power b. engage in mergers if the godfather chooses the wrong price c. together influence the price leader (godfather firm) to share industry profit more equally d. enjoy a higher economic profit than they would otherwise e. survive a price war without too many losses