As gasoline prices increase, which of the following will happen?
a. Demand will increase.
b. Supply will be reduced.
c. Supply will increase.
d. Demand will drop significantly.
Answer: c. Supply will increase.
Economics
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One point virtually all economists agree on when defining money is that: a. money must be spendable
b. money must be liquid. c. money must be accepted as payment. d. all of the above are correct.
Economics
Which of the following is not a correct statement about money? a. Money serves as a medium of exchange
b. The value of money generally fluctuates much more than the prices of individual commodities like oil or wheat. c. Money serves as a store of value. d. Money serves as a means of deferred payment.
Economics