Which of the following functions of money would be violated if inflation were high?
A) store of value B) medium of exchange
C) unit of account D) certificate of gold
A
Economics
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If you buy a gift without knowing what a person really wants or needs, you have demonstrated:
A. the incentive problem of gift-giving. B. the necessity-identification problem of gift-giving. C. the knowledge problem of gift-giving. D. the negative trade problem of gift-giving.
Economics
All possible gains from specialization and exchange would be fully exploited only under which market structure?
A) Pure monopoly B) Perfect competition C) Oligopoly D) Structures allowing for price-searching activity E) Structures where entry is restricted
Economics