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Author Question: Refer to Figure 11-4. Suppose the per-worker production function in the figure above represents the ... (Read 73 times)

audie

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on: Jun 29, 2018
Refer to Figure 11-4. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy.
 
  If the United States decided to cut its support of university research in half, this would cause a movement from
  A) B to E. B) B to D. C) B to A. D) B to C.

Question 2

What are the four functions of money? Can something be considered money if it does not fulfill all four functions?
 
  What will be an ideal response?


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Galvarado142

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The four functions are medium of exchange, unit of account, store of value, and standard of deferred payment. In the long run, something will not serve as money if it does not fulfill all four functions.


audie

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Reply #2 on: Jun 29, 2018
Correct answers!


Galvarado142

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Reply #3 on: Jun 29, 2018
Great! Please up vote :D


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