Lauren has a savings account into which she puts money every month so she will eventually have enough for a down payment on a house. This is an example of which function of money?

The marginal utility of a second copy of today's New York Times is

a. infinite b. practically zero c. positive and greater than the marginal utility of the first copy d. equal to the marginal utility of the first copy e. 50 cents

If a union is successful in negotiating a wage rate which is above the market clearing wage, then which of the following would not occur?

A) The higher wages attract more workers leading to a shortage of jobs. B) Management may replace part of the workforce with machinery. C) To handle the surplus of labor the union will form a closed shop. D) The union may shift the supply of labor curve by developing methods to ration jobs.