Which of the following properties should a commodity have to be considered as money?
a. It should be scarce and rare.
b. It should be perishable.
c. It should be indivisible.
d. It should be unpredictable in value.
e. It should be homogenous in nature.
e
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Country A's tax system is more efficient than Country B's tax system if
a. Country A collects less tax revenue than Country B, and the cost to taxpayers is the same in both countries. b. Country A collects more tax revenue than Country B, even though the cost to taxpayers is greater in Country A than in Country B. c. the same amount of revenue is raised in both countries, but the cost to taxpayers is smaller in Country A than in Country B. d. the same amount of revenue is raised in both countries, but the taxes are collected in a shorter amount of time in Country A than in Country B.
Keynes argued that ______ prevents the market solution from working rapidly enough to avert a(n) ______.
a. wage inflexibility; increase in the price level b. disinflation; prolonged inflationary gap c. low demand; unexpected positive shock d. wage inflexibility; prolonged recession