Chara pays Jim $2 and receives a cup of coffee in return. This demonstrates money’s function as a ______.
a. unit of account
b. medium of exchange
c. means of deferred payment
d. store of value
b. medium of exchange
Economics
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How much would Nadia be willing to pay for the insurance?
a. $900 b. $1000 c. $1100 d. $1200
Economics
From the standpoint of economic efficiency, markets tend to provide
a. less of a public good than would be efficient. b. more of a public good than would be efficient. c. exactly the amount of a public good that is efficient. d. none of the above.
Economics