The function of money that allows individuals a method to compare the relative value of goods and services is
A. liquidity.
B. store of value.
C. medium of exchange.
D. unit of accounting.
Answer: D
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If a local government collects taxes of $500,000, has $350,000 of government consumption expenditures, makes transfer payments of $100,000, and has no interest payments or investment, its budget would
A) show a surplus of $150,000. B) show a surplus of $50,000. C) be in balance with neither a surplus nor a deficit. D) show a deficit of $50,000.
The IS curve is Y = 20 - 1.5r, and the aggregate demand curve is Y = 15.5 - 0.3?. When the interest rate is 7 percent, the inflation rate is ________ percent
A) 14.6 B) 9.5 C) 3.6 D) 20 E) none of the above
A depreciation in Micromania's currency, the micro, occurs when the exchange rate changes from
a. 50 micros = $2 to 25 micros = $1 b. 100 micros = $2 to 200 micros = $1 c. $1 = 75 micros to $2 = 100 micros d. $3 = 75 micros to $1 = 25 micros e. $1 = 50 micros to $2 = 50 micros
Policies that preclude the deliberate creation of monopoly and undesirable practices are called
a. antitrust policies. b. anti-monopoly policies. c. anti-competitive policies. d. socialism.