If the income elasticity of demand is less than 1.0, it means it is an inferior good

A $20 price tag on a sweater in a department store is an example of money serving as a

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

In Figure 4-5 above, people would be trying to increase their holdings of money at

A) points A and E. B) points B, E, and C. C) point A. D) points A and B. E) point D.