We observe that the price of food rises and the quantity purchased also rises. This means the

Economists define money as

A) cash in circulation. B) deposits in commercial banks. C) anything that people are willing to accept in payment for goods and services or to pay off debts. D) bonds issued by large corporations.

Economically speaking, tariffs are

a. a means to promote economic efficiency. b. necessary to keep the industries of an economy healthy. c. the same as import quotas. d. obstacles that limit voluntary exchange.