McDonald's identifies the hidden characteristics of its potential franchisees by engaging in a significant application process in which financial resources must be substantiated

Money serves as a medium of exchange means that

A) it benefits both buyers and sellers. B) it eliminates the need for barter. C) it reduces transaction costs. D) All of the above are correct.

What is one way to measure technological progress?

(A) Any increases in labor minus increases in capital. (B) Total growth plus increases in capital and labor. (C) Total growth minus increases in capital and labor. (D) Any increases in capital minus increases in labor.