If at some output level for a firm price exceeds average total cost, then the firm is earning an economic profit

Money cannot serve as a medium of exchange unless it also serves as a store of value. Is this statement true or false? Explain

What will be an ideal response?

One of the results of the strong economic growth in the United States relative to the rest of the world is a

a. U.S. trade surplus. b. U.S. trade deficit. c. growing U.S. net exports. d. trade deficit for U.S. trading partners.