Money is a medium of exchange in that
A) money is generally accepted for buying and selling goods and services.
B) currency may be exchanged for gold at any national bank.
C) other assets may be better or worse in facilitating exchange than money.
D) it must maintain most of its value over time.
A
Economics
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Which of the following does not illustrate opportunity cost?
a. If I study, I must give up going to the football game. b. If I buy a computer, I must do without a 35" television. c. More consumer spending now means more spending in the future. d. If I spend more on clothes, I must spend less on food.
Economics
If the MPC equals 0.75, $100 billion tax increase will decrease consumption in the first round by
A. $400 billion. B. $75 billion. C. $300 billion. D. $100 billion.
Economics