Features of "Reagonomics" include all of the following except:
a. reduction in marginal tax rates.
b. increased government expenditures for defense.
c. deregulation of business.
d. regular increases in the minimum wage.
d. regular increases in the minimum wage.
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Which of the following defines the "medium of exchange" function of money?
a. To provide a common measurement of the relative value of different goods and services. b. The ability of money to hold value over time. c. The materials used manufacture money are of medium grade so that people will not hoard money for its commodity value. d. Money that is widely accepted in exchange for goods and services.
Which of the following must be included in the calculation of GDP?
a. The sale of a used car to an auto dealer b. Bartering lawn care services for car washes c. A father staying at home to attend to his child d. The sale of an illegal cable box e. Payment made for a SAT preparation class