To the extent that the value of money is less predictable, it becomes
A) more acceptable as a store of value.
B) less acceptable as a medium of exchange.
C) more acceptable as a standard of deferred payment.
D) more acceptable as a unit of account.
Ans: B) less acceptable as a medium of exchange.
You might also like to view...
The cost of group health insurance is generally lower than if a person buys an individual policy because
A) it is easier for an insurance company to deny claims from a group policy. B) the problem of adverse selection is reduced. C) insuring a group of people eliminates the problem of policy holders having more information than the insurance company. D) this eliminates the problem of moral hazard.
In the above figure, if the natural monopoly is regulated with an average cost pricing rule and the firm does not inflate its costs, the deadweight loss to society is
A) zero. B) efc. C) ebc. D) gac.