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Author Question: Even though we can convert them into money, deposits at banks are not money. Is the previous ... (Read 91 times)

Tirant22

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on: Jun 29, 2018
Even though we can convert them into money, deposits at banks are not money. Is the previous statement correct or not?
 
  What will be an ideal response?

Question 2

The preceding table gives monthly production information for Peter's Peanuts, a firm in a perfectly competitive industry. The market price of peanuts is 2.00 per pound. What is the marginal product from employing the fourth worker?
 
  A) 7 pounds of peanuts
  B) 100 pounds of peanuts
  C) 400 pounds of peanuts
  D) 2,800 pounds of peanuts


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Benayers

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

The statement is incorrect. Some deposits at banks, such as checking account deposits, are a means of payment and fulfill all the functions of money. These deposits are therefore money.

Answer to Question 2

C


Tirant22

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Jsherida

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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