A school teacher gets paid today in money, but plans to spend the money in six months on a vacation. This illustrates which function of money?

A) medium of exchange
B) store of value
C) standard of value
D) serving as a commodity


B

Economics

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The credit spread refers to ________

A) the extent to which financial instruments are distributed among households at different income levels in a given society B) the difference between the London Inter-Bank Offered Rate (LIBOR) and the fed funds rate C) the price elasticity of household debt D) the interest-rate differential between risky bonds and U.S. Treasury bonds

Economics

The legal system in the United States tends

A) to support monopolies. B) to actively discourage unionization. C) to discourage the entry of new firms into industries. D) to promote competition.

Economics

In 2015, imports represented:

A. about 15 percent of U.S. GDP. B. about 1 percent of U.S. GDP. C. about 40 percent of U.S. GDP. D. nearly 70 percent of U.S. GDP.

Economics

If we consider the equation PAE = A + bY the independent part of the equation that depends on income is:

A. b B. Y C. A D. PAE

Economics