When money is used to acquire goods and services, it is functioning as a
A. Equation of value.
B. Medium of exchange.
C. Store of value.
D. Standard of account.
Answer: B
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A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.
Is a benevolent command economy likely to achieve greater efficiency than a purely competitive market system? Explain
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What will be an ideal response?
When Sally increases the consumption of pizza and decrease the consumption of soda, her marginal utility of
A. both pizza and soda will decrease. B. pizza falls and the marginal utility of soda will increase. C. both pizza and soda will increase. D. pizza increases and the marginal utility of soda will fall.