Suppose you are offered a new smartphone in exchange for thirty hours of your work in your friend's garden. This is an example of
A) money as a standard of deferred payment. B) barter.
C) money as a medium of exchange. D) money as a store of value.
B
Economics
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What is the average cost per unit if the firm produces 5 units?
a. $196 b. $980 c. $182 d. $910
Economics
If production involves decreasing opportunity cost, the production possibilities curve
a. is "bowed inward." b. is a straight line. c. is "bowed outward." d. is a wavy line. e. has an unpredictable shape.
Economics