The unit-of-account function of money means that money is used
A) as a consistent means of measuring the value of things.
B) as the common denominator of future payments.
C) to pay for goods and services.
D) to accumulate purchasing power.
Ans: A) as a consistent means of measuring the value of things.
Economics
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The basis for trade is absolute advantage, not comparative advantage
Indicate whether the statement is true or false
Economics
An increase in the real interest rate in the United States changes the quantity of loanable funds demanded because
a. U.S. residents will want to buy more foreign assets. b. Foreign residents will want to buy more U.S. goods and services. c. U.S. firms will want to purchase fewer U.S. capital goods. d. All of the above are correct.
Economics