Which of the following is an example of money serving as a medium of exchange?
a. Richard puts money into a piggy bank.
b. Ellen deposits cash into a money market account.
c. Sean puts a new $20 bill into his currency collection.
d. Marian buys a carbo-loaded drink before a marathon.
d
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Leaving open-access resources open to all people but restricting the intensity of the use of the resources assigns
A) permanent property rights to the government. B) temporary property rights to those people given permission to use the resource. C) property rights to no one since the intensity of the use of the resource has been restricted. D) property rights to everyone since the resource is available to be used by everyone.
If a country were to experience an increase in its factors of production, its production possibilities frontier would shift outward
Indicate whether the statement is true or false