If you post your car on eBay with a "Buy It Now" price of $1,800, you are using money as
A. bank reserves.
B. a medium of exchange.
C. a unit of account.
D. a store of value.
Answer: C
Economics
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A nation has a comparative advantage in a good when it has a
A) higher opportunity cost of producing the good. B) tariff in place protecting the producers of the good. C) higher absolute cost of producing the good. D) lower absolute cost of producing the good. E) lower opportunity cost of producing the good.
Economics
As DVDs become popular substitutes for video cassettes, demand for video cassettes is likely to
a. become less price elastic b. become more price elastic c. increase d. stay the same e. become unit elastic
Economics