If the price of smoothies is $3.50 in the United States and the exchange rate is 110 yen per dollar, then what is the yen price of smoothies?

Money is any commodity or token that

A) is naturally accepted by households to accumulate wealth. B) is backed up and controlled by the government. C) does not change in value over time. D) is generally accepted as a means of payment. E) is backed by gold.

Points along a budget line represent the maximum combinations of two commodities that a consumer can afford

a. True b. False Indicate whether the statement is true or false