The function of money as a store of value diminishes if
A) money is no longer backed by gold. B) prices of goods and services increase.
C) people begin to barter. D) interest rates increase.
B
You might also like to view...
Which of the following is a normative economic statement?
a. The unemployment rate for the United States is currently 5.4 percent. b. The inflation rate in the United States is too high. c. An increase in the price of a good will reduce the amount purchased. d. Higher profits in an industry will attract more entrepreneurs into the industry.
A surplus will occur in a market when the price of the product is above the equilibrium price
Indicate whether the statement is true or false
An increase in labor productivity shifts the
A) AD curve rightward. B) AD curve leftward. C) short-run aggregate supply (SRAS) curve leftward. D) SRAS curve rightward. E) none of the above
Purchasing goods such that the ratio of marginal utility to price is equal across all goods results in the:
A. same expenditure on all goods. B. greatest marginal utility. C. lowest expenditure. D. greatest total utility.