The function of money as a store of value diminishes if
A) money is no longer backed by gold. B) prices of goods and services increase.
C) people begin to barter. D) interest rates increase.
B
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Joanne rents a TV production studio to produce an extra hour of a TV show. The rent is
A) a private cost and not an external cost. B) an external cost and not a private cost. C) both a private cost and an external cost. D) neither a private cost nor an external cost. E) a private benefit because viewers will benefit from watching the extra hour of the show.
The "damaged goods" strategy refers to
a. Trying to sell damaged goods to your customers b. Damaging the goods after they have been paid for but before the shipping c. Incurring additional costs to make the cheaper goods unattractive to high-value users d. Incurring additional costs to make the more expensive goods better quality