One of the benefits of money as a medium of exchange is that
A) it allows individuals to compare the relative value of goods.
B) it allows for specialization that leads to economic efficiencies.
C) over time it will become more valuable so that individuals can purchase more goods and services.
D) it allows for private transactions such as trading vegetables for medical services.
B
Economics
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The amount of goods and services that a person can produce in a given time is called
a. labor input b. labor intensive c. labor output d. labor productivity
Economics
The Taylor rule says that the fed funds rate target is a function of all of the following, except
A) the actual inflation rate. B) the target inflation rate. C) the percentage difference between actual and potential real GDP. D) the level of borrowed reserves.
Economics