Which of the following is NOT considered a function of money?
A) It facilitates exchange.
B) It acts as a means of payment.
C) It can be held and exchanged for future goods and services.
D) It allows banks to lend out funds.
D
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Which of the following statements would appeal to someone who favors an expanded public sector as the basis of expansionary fiscal policy?
a. "The government isn't the solution; it's the problem." b. "The government that governs least governs best." c. "The American people want national defense; they want laws to be enforced; they want federal support for education and environmental protection, and they want transfer payments for the elderly and unemployed." d. "If you ever got anything good out of the government you can be sure that some rich so-and-so got more."
The CPI tends to overstate the true inflation rate because
A. we cannot know what the true inflation rate is. B. the market basket actually selected is inappropriate. C. the market basket fails to weigh housing costs sufficiently. D. it fails to consider the effects of new products in the marketplace.