The confidence you have that a retailer will accept dollars in exchange for goods is based primarily on money
a. being a unit of account.
b. being a medium of exchange.
c. serving as a store of value.
d. having intrinsic value.
b
Economics
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The above figure shows the payoff matrix facing an incumbent firm and a potential entrant. If the fixed cost of entry were to increase, which of the following would occur?
A) The incumbent chooses the Cournot level of output. B) The incumbent shuts down. C) The entry-deterring level of output rises. D) The entry-deterring level of output falls.
Economics
A normative economic statement can be proven either true or false
a. True b. False Indicate whether the statement is true or false
Economics