If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:

You spend $20 to buy a used textbook at the college bookstore. What function does money perform here?

A) medium of exchange B) store of value C) unit of account D) standard of deferred payment

Which of the following observations is true?

a. In the long run, more costs become variable. b. Fixed costs can be completely varied if the time period is sufficient. c. Fixed costs arise when some types of inputs can be bought only in big batches. d. Variable costs arise when inputs have a large productive capacity.