When a grocery store accepts your $5 bill in exchange for bread and milk, the $5 bill serves as a
A) medium of exchange.
B) unit of account.
C) store of value.
D) standard of deferred payment.
Answer: A
Economics
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Which of the following is not evidence of the lower standard of living among less-developed countries?
a. High per capita real GDP. b. High percentage of households headed by females. c. High infant mortality rate. d. Low life expectancy. e. High birth rate.
Economics
Expansionary monetary policy generally:
A. raises U.S. interest rates. B. pushes down the value of the U.S. dollar. C. increases the U.S. exchange rate. D. increases the inflow of financial capital.
Economics