The best measure of money is
A) coins and currency.
B) the one based on the transactions approach.
C) the one based on the liquidity approach.
D) something economists have never agreed on.
D
Economics
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If there is no scarcity,
A) choices are no longer rational. B) all marginal benefits would equal zero. C) the opportunity cost of an action would be greater than its sunk cost. D) marginal cost of an action is greater than its marginal benefit. E) an action would have zero opportunity cost.
Economics
An individual perfectly competitive firm has a supply curve
A) with a positive slope. B) with a negative slope. C) that is parallel to the quantity axis. D) that has a positive slope at lower output levels and a negative slope at higher output levels.
Economics