Which of the following is considered a key economic influence on the capacity of market economies to promote unprecedented growth?

Checks and credit cards are NOT considered money because they

A) are issued by banks, not the Federal Reserve. B) are not the means of payment. C) typically require an identification requirement, such as your driver's license. D) are not backed by all commercial banks.

The price elasticity of demand for furniture is estimated at 1.3. This value means a one percent increase in the

A) price of furniture will increase the quantity of furniture demanded by 1.3 percent. B) price of furniture will decrease the quantity of furniture demanded by 1.3 percent. C) quantity of furniture demanded will decrease the price of furniture by 1.3 percent. D) quantity of furniture demanded will increase the price of furniture by 1.3 percent.