Money does all of the following except
A. Reduce the efficiency with which market exchanges take place.
B. Facilitate the continuous series of exchanges that characterizes a market economy.
C. Promote efficient division of labor.
D. Serve as a mechanism for transforming current income into future purchases.
Answer: A
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The Federal Reserve System is divided into
A. 7 districts. B. 5 districts. C. 15 districts. D. 12 districts.
All of the following are economic resources, or factors of production EXCEPT
A) land. B) physical capital. C) money. D) entrepreneurship.
A recent medical study shows that peanuts are one of the leading causes of high cholesterol. This would cause the demand for peanuts to
a. Shift to the left b. Shift to the right c. go down the demand curve d. not change
When setting prices, the monopolist may choose to charge alternative customers different prices based on: a. geographical location. b. age
c. income. d. all of the above