Money serves which of the following functions?
A. A medium of exchange.
B. A standard of value.
C. A store of value.
D. All of the choices are true of money's function.
D. All of the choices are true of money's function.
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If an external cost exists, then who bears the external cost in an unregulated competitive market transaction?
A) nobody B) the federal government C) someone other than the producers D) the buyers of the product
Tobacco could not be grown in England. It could only be produced in the colonial South
Indicate whether the statement is true or false
The richest EU country in terms of GPD per capita is:
a. Germany b. Netherlands c. Denmark d. Luxembourg
In the short run, which of the following is not correct?
a. Increasing the money supply increases the demand for goods and services. b. Increasing the money supply encourages firms to hire more workers. c. Lowering the money supply leads to a higher level of unemployment. d. Policies that encourage higher employment will also induce a lower rate of inflation.