Which statement about money is true?
a. To qualify as money, currency must be officially recognized by a government.
b. Aside from precious metals, commodities cannot be considered money.
c. The term money refers to metallic coins and paper currency legally designated by some institution.
d. As long as it is generally accepted in exchange for services and goods, anything can be money.
d. As long as it is generally accepted in exchange for services and goods, anything can be money.
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While Medicaid is targeted towards low-income individuals, exact qualifications are determined by _____
a. the Department of Health and Human Services b. state governments c. local governments d. judicial rulings
Lectures in microeconomics can be delivered either by an instructor (labor) or a movie (capital) or any combination of both. Yet, it gets harder and harder to substitute more movies for an instructor the more movies are already used
Which graph in the above figure best represents the isoquants for lectures in microeconomics when units of capital per day is on the vertical axis and units of labor per day is on the horizontal axis? A) Graph A B) Graph B C) Graph C D) Graph D
The discount rate is sometimes also known as the primary credit rate
Indicate whether the statement is true or false
Consider the following game. You pick a card from a deck and each time you select an ace, you get $260. For all other cards you must pay $13. This game is a fair bet.
Answer the following statement true (T) or false (F)