When a banker records how many dollars each of his borrowers owes the bank, money is serving as a:

The main idea behind using fiscal policy to combat a recession is:

A. the government will make up for the decreased saving in the economy, preventing a downward spiral. B. the government will supplement the increased saving in the economy, contributing to an upward spiral. C. the government will make up for the decreased spending in the economy, preventing a downward spiral. D. the government will supplement the increased spending in the economy, contributing to an upward spiral.

Assuming zero transactions costs, if your local grocer buys oranges at a low price from an orchard and resells them to you at a higher price, then the grocer's revenue minus costs is known as

A) transactions profits. B) pure profits. C) excess profits. D) arbitrage profits.