Kevin purchasing concert tickets with his debit card is an example of the ________ function of money
A) medium of exchange
B) unit of account
C) store of value
D) specialization
A
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Decisions regarding purchases and sales of government securities by the Fed are made by the
When Social Security first began, the required contribution levels were _____
a. 2 percent of a worker's pay for all income earned b. 2 percent of a worker's pay for the first $3,000 of income earned c. 1 percent of a worker's pay for the first $3,000 of income earned d. 1 percent of a worker's pay for all income earned
What happened to the international gold standard during WWI?
A) It flourished, since no nation trusted the other nations' currencies. B) It was abandoned. C) It did not disappear but was weakened by a major decline in international trade. D) It was relegated to government control.
If the opportunity cost of 1 wristwatch is 4 wall clocks in Japan and 2 wall clocks in Germany, it makes sense for Japan to produce wristwatches.
Answer the following statement true (T) or false (F)