Which of the following best defines what money is now and what it has been in the past?
A) currency plus credit cards
B) anything accepted as a means of payment
C) currency
D) anything used as a store of value
E) currency plus checking deposits
B
Economics
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When two goods have negative cross elasticities of demand and negative income elasticities, they are: a. Normal and substitutes
b. Normal and complements. c. Inferior and substitutes. d. Inferior and complements.
Economics
A tax has an excess burden whenever
a. people are unable to alter their behavior to avoid paying it. b. government seeks to raise it. c. it raises a great deal of revenue. d. it induces people to change their behavior.
Economics