Money is essentially defined by
A) the intrinsic value of what is being used as money.
B) the judicial branch.
C) the government.
D) social usage.
Ans: D) social usage.
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The following table shows the relationship between the speed of a computer's CPU and its benefits and costs. Assume that all other features of the computer are the same (that is, CPU speed is the only source of variation), and only the CPU speeds listed below are available for purchase.CPUGHzTotal BenefitMarginal BenefitTotal CostsMarginal Costs2.0$1,000 $900 2.5$1,400 &1003.0 $300$1,200 3.5$1,900 &1,500 4.0$2,000 &400The marginal benefit of upgrading from a 2.0GHz computer to a 2.5GHz computer is:
A. $400. B. $1,400. C. $1,000. D. $100.
If the economy's real GDP doubles in 9 years, we can
A. conclude that its average annual rate of growth is 8%. B. not say anything about the average annual rate of growth. C. conclude that its average annual rate of growth is 4%. D. conclude that its average annual rate of growth is 12%.