When you set aside the money you have today in order to purchase goods and services later on, you are using money as a
A) store of value. B) medium of exchange.
C) standard of deferred payment. D) unit of accounting.
A
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The share of long-term unemployment:
A. increases with the amount of labor market rigidity, which explains why the United States has more long-term unemployment than Europe. B. decreases with the amount of labor market rigidity, which explains why Europe has more long-term unemployment than the United States. C. increases with the amount of labor market rigidity, which explains why Europe has more long-term unemployment than the United States. D. decreases with the amount of labor market rigidity, which explains why the United States has more long-term unemployment than Europe
Which of the following statements regarding an average-cost pricing rule for a natural monopoly is WRONG?
A) It sets price equal to average total cost. B) It is efficient. C) The firm makes zero economic profit. D) More output is produced than if the firm maximized profit.