Though many assets can be used as a store of value, money is a particularly attractive method to store value because:
a. it increases in value as prices rise.
b. its purchasing power does not decline when prices rise.
c. it is the most liquid of all assets.
d. it is backed by gold.
c
Economics
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What is marginal cost? Which curve is also referred to as the marginal cost curve?
What will be an ideal response?
Economics
The reason that supply and demand tend to be more price elastic over longer time periods is because
A) it takes time for households and businesses to adjust to price changes. B) some goods have longer shelf life and are reordered less often. C) firms incur costs in changing the price of goods on their shelves. D) the feedback loop from buyers to sellers takes time.
Economics