A $25,000 price tag on a new car is an example of money as
A) a medium of exchange.
B) a unit of account.
C) a store of value.
D) a time deposit.
B
Economics
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When a resource has a perfectly elastic supply curve
A) the amount of economic rent for the resource is determined by its supply. B) the amount of economic rent for this resource is determined by demand for the resource. C) there is no economic rent being earned by this resource. D) the entire payment received by this resource is economic rent.
Economics
When the Fed purchases government securities from a commercial bank, the bank
a. loses its ability to make loans. b. automatically becomes poorer. c. loses equity in the Fed. d. receives reserves that can be loaned out.
Economics