Which of the following transitional economies has become a high-income nation?

Which of the following is TRUE?

I. Checks are considered money because they can be used as a medium of exchange. II. Checks represent a transfer of money. A) I only B) II only C) both I and II D) neither I nor II

Refer to Figure 15-11. Following the entry of Verizon, the subscription price falls from PM to PC. What is the increase in consumer surplus as a result of this change?

A) the area D + F B) the area B + C C) the area A + B + C D) the area B + C + D