Are checks and credit cards money? Explain why or why not
What will be an ideal response?
Checks are not money. Checks are instructions to your depository institution allowing for funds to be given to the entity listed on the check. Credit cards also are not money. Credit cards are ID cards that allow the user to access a previously-approved line of credit. The funds borrowed using a credit card must eventually be repaid using money.
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The return-to-entrepreneurship curve is:
A) horizontal. B) vertical. C) downward sloping. D) upward sloping.
In many large American cities it is common to witness private motorists pulling up to municipal bus stations and allowing perfect strangers to ride into downtown with them in order to take advantage of the high occupancy vehicle lanes that require
two or more drivers. Using the concept of elasticity of demand and total revenue explain why public transit authorities might be concerned with this practice.