Author Question: As a standard of deferred payment, money can be used to: a. express debt obligations in the form of ... (Read 19 times)

leilurhhh · **on:** Jun 30, 2018

As a standard of deferred payment, money can be used to:
a. express debt obligations in the form of purchasing power.
b. foster barter activity.
c. facilitate exchanges of goods and services.
d. achieve a common denominator for measuring the value of goods and services.
e. ascertain the liquidity of financial assets.

Question 2

When a shortage exists in a market, sellers
a. raise price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated.
b. can raise price without worrying about the loss of sales, which increases quantity supplied and decreases quantity demanded until the shortage is eliminated.
c. lower price, which increases quantity demanded and decreases quantity supplied until the shortage is eliminated.
d. lower price, which decreases quantity demanded and increases quantity supplied until the shortage is eliminated.