Money is
a. valuable because it is backed by gold.
b. whatever is generally accepted in exchange for goods and services.
c. anything that is a liability of a commercial bank
d. an object to be consumed.
B
Economics
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Income received but not earned is
a. national income b. personal income c. personal disposable income d. indirect business taxes e. transfer payments
Economics
If the price of labor or some other variable resource decreased, the:
A. AVC curve would shift upward B. AFC curve would shift downward C. AFC curve would shift upward D. MC curve would shift downward
Economics