Which of the following is an example of money serving as a medium of exchange?
a. John buys a cup of coffee and a roll at the faculty dining room.
b. Steve puts a five-dollar bill in his money belt

What does the "brain drain" refer to and why is it a problem for developing countries?

What will be an ideal response?

The life-cycle hypothesis applies the concept of ________ to retirement

A) income & substitution effects B) transitory income C) autonomous consumption D) consumption smoothing