Whenever there is a surplus in the current account, the capital account:
a. will be negative

The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a

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

Using the above figure, CBL is the cost of breaking the law. What is the equilibrium price and quantity if beer is legal?

A) $5 per quart and 300 quarts of beer B) $3 per quart and 500 quarts of beer C) $3 per quart and 100 quarts of beer D) $1 per quart and 300 quarts of beer