When a grocery store accepts your $5 bill in exchange for bread and milk, the $5 bill serves as a
A) unit of account. B) standard of deferred payment.
C) store of value. D) medium of exchange.
D
Economics
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Any deviation from the efficient scale of production would result in a(n): a. decreased marginal cost
b. increased marginal cost. c. increased average total cost. d. decreased average total cost.
Economics
When a union raises the wage above the equilibrium level, it
a. reduces both the quantity of labor supplied and the quantity of labor demanded. b. reduces the quantity of labor supplied and raises the quantity of labor demanded. c. raises the quantity of labor supplied and reduces the quantity of labor demanded. d. raises both the quantity of labor supplied and the quantity of labor demanded.
Economics