Compared to a barter economy, an economy that uses money will
A) be greedier.
B) be poorer.
C) have more corruption.
D) have more output.
D
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Refer to the scenario above. Using 2012 as the base year, what is the real GDP of the economy in 2012?
A) $57,500 B) $75,000 C) $45,000 D) $55,000
In stores, it is common to find seasonal products marked down when the season ends. What explains this behavior?
A) The store is trying to increase its customers' demand for the product. B) The store manager must be trying to drive away customers by selling low quality products. C) The store is trying to sell the goods and realizes that they are substitutes for other goods whose prices have risen. D) The law of demand is being used to increase the quantity demanded. E) The store is trying to increase its consumers' incomes by increasing their purchasing power.