If individuals were paid for their household production, GDP would:
a. increase

When you buy a taco for breakfast, you are using money as a

A) store of value. B) standard of deferred payment. C) medium of exchange. D) unit of accounting.

Anna's Antiques expects to get two bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If Anna receives $100 from the auction she can infer that

a. Both the bidders were high value bidders b. Both the bidders were low value bidders c. One of the bidders was high value, while the other was low value d. All of the above