Members of the Federal Reserve Board of Governors serve one nonrenewable term of:

Inflation reduces the ability of money to function as a

A) medium of exchange. B) medium of value. C) unit of account. D) store of value.

One of the defining characteristics of a perfectly competitive market is

a. a small number of sellers b. a large number of buyers and a small number of sellers c. a standardized product d. significant nonprice competition among firms e. an inefficient information system