Which of the following defines the "unit of account" function of money?
a. A common measurement of the relative value of different goods and services.
b. The ability of money to hold value over time.
c. The materials used to manufacture money are of medium grade or quality, so that people will not hoard money for its commodity value.
d. Money is widely accepted in exchange for goods and services.
a
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The table above shows the total product schedule for Rick's Lawn Service, a yard care company. When does the average product of labor equal the marginal product of labor?
A) between the 4th and 5th workers B) at the 5th worker C) between the 5th and 6th workers D) between the 6th and 7th workers E) between 0 workers and the 3rd worker
The functional finance philosophy is based on the idea that balancing the federal budget is less important than using it to promote an economy operating at its potential
a. True b. False Indicate whether the statement is true or false