Free markets promote all of society’s goals.

If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts are

A) bank deposits. B) reserves. C) money. D) loanable funds.

Although monopolistically competitive markets offer consumers a wide variety of differentiated products, there may still be insufficient variety if

a. there are large fixed costs in the market. b. there are no barriers to entry in the market. c. the business-stealing externality is present in the market. d. the government does not impose regulations on the market.