The idea that firms incur actual costs when they change prices is known as _____. Firms in countries with lower inflation rates will change price _____ frequently compared to those countries where inflation is higher

Taco Bell's economists determine that the price elasticity of demand for their tacos is 2.0. So, if Taco Bell raises the price of its tacos by 6.0 percent, the quantity demanded will decrease by ________ percent

A) 2.0 B) 3.0 C) 6.0 D) 12.0

Lauren has a savings account into which she puts money every month so she will eventually have enough for a down payment on a house. This is an example of which function of money?

a) Barter b) Medium of exchange c) Store of value d) Unit of account