Countries with surpluses in their balance of payments frequently do not want to see their currencies ________ because it makes their goods ________ expensive abroad

Money serves as a standard of value, which is another way of saying that money functions as

A) a unit of accounting. B) a medium of exchange. C) an opportunity cost of investment. D) standard of deferred payment.

In the figure above, if the wage rate is $6 per hour, then the

A) firms' surplus is the area d + e + f. B) workers' surplus is the area a + b + c. C) deadweight loss equals zero. D) Only answers A and C are correct. E) Answers A, B, and C are correct.