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Author Question: Twenty years ago a stove cost 300 and a refrigerator cost 1,500. Today a stove costs 600, while a ... (Read 73 times)

B

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on: Jun 29, 2018
Twenty years ago a stove cost 300 and a refrigerator cost 1,500. Today a stove costs 600, while a refrigerator costs 1,800. Which of the following statements is TRUE?
 
  A) The relative price of stoves and refrigerators has not changed.
  B) The relative price of a refrigerator has increased.
  C) The relative price of a stove has increased.
  D) The money price of a refrigerator has fallen.

Question 2

The fact that money can be exchanged for goods reflects money's role as a
 
  A) cause of inflation.
  B) medium of exchange.
  C) unit of account.
  D) store of value.


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Missbam101

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

C

Answer to Question 2

B


B

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Reply 2 on: Jun 29, 2018
Gracias!

smrtceo

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Reply 3 on: Yesterday
Excellent

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