If society produces at a point inside the production possibilities frontier, it is characterized by full employment of resources
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Money's use in non-barter transactions relates to its role as a
A) store of value. B) medium of exchange. C) unit of accounting. D) standard of deferred payment.
Economics
Liquidity refers to
a. the ease with which an asset is converted to the medium of exchange. b. the measurement of the intrinsic value of commodity money. c. the measurement of the durability of a good. d. how many time a dollar circulates in a given year.
Economics