When money is accepted as payment for a good or service, it is being used as a

When economists hold factors other than the one they are analyzing constant, they are demonstrating the principle of

a. circular flow analysis b. consumer sovereignty c. ceteris paribus d. normative economics e. scarcity modification

In 1978, China was the world's 15th-largest economy. By 2011, China had:

A. the second-largest economy in the world. B. an economy worth about $11 trillion. C. the fourth-largest economy in the northern hemisphere D. a larger economy than Japan but smaller than Germany.