If an individual requires a bag full of cash to buy a pound of cake, then the currency is:
a. not recognized as a medium of exchange.
b. not performing well as a store of value.
c. not performing as a unit of account
d. performing well as a commodity.
b
You might also like to view...
Overproduction compared to the efficient amount implies that for the last unit produced
A) marginal social benefit exceeds marginal social cost. B) marginal social benefit equals marginal social cost. C) marginal social cost exceeds marginal social benefit. D) the deadweight loss is zero.
If MC's Hammers, a perfectly competitive firm, finds that its total revenue is $45,000 . its fixed cost is $20,000 . and its total cost is $50,000 . its producer surplus is
a. zero because TC > TR b. -$5,000 c. $25,000 d. $15,000 e. -$25,000
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 50 pizzas a day, its average total cost is ________.
A. $10 B. $15 C. $20 D. $5
If a fishing boat owner brings 10,000 fish to market and the market price is $7 per fish, she will have $70,000 in total revenue. If the average variable cost of 10,000 fish is $4 and the fixed cost of the boat is $20,000, what is her profit?
A. $3. B. $1,000. C. $3,000. D. $10,000.