If you write a check on a bank to purchase a used Honda Civic, you are using money primarily as:
A. an economic investment.
B. a medium of exchange.
C. a unit of account.
D. a store of value.
Answer: B
Economics
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If the firm in Figure 17-4 above maintains its set price of P0, rather than dropping price to P1, the welfare loss to society due to this decision is
A) J + K. B) K - G. C) G + H. D) H + K. E) F + G + H.
Economics
If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
a. Demand will increase. b. Quantity demanded will increase. c. Demand will decrease. d. Quantity demanded will decrease. e. Supply will decrease.
Economics