Which of the following statements is false?
a. Round stones with holes in the center can serve as money.
b. Money eases the process of exchanging goods and services in a modern economy.
c. Money serves as a measure of value only when it is backed by gold or silver.
d. Money is used as a measure of the relative value of goods and services in an economy.
c
Economics
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What does a perfectly competitive firm do to maximize profits?
What will be an ideal response?
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The shape of a firm's expansion path depends upon
a. the price of the labor input. b. the price of the capital input. c. the shape of the firm's production function. d. all of these factors.
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