Money provides a way to transfer wealth into the future. This function of money is known as
A) medium of exchange. B) unit of accounting.
C) store of value. D) standard of deferred payment.
Question 2
Which of the following is a TRUE statement?
A) The most important source of economic growth is the rate of population growth since a growing population stimulates demand for goods and services, and provides the labor to produce the goods and services.
B) The most important sources of economic growth are the new ideas generated by entrepreneurs in an economic system that permits them to capture the rewards of their entrepreneurial activities.
C) The most important sources of economic growth are the quantity and quality of the land and other natural resources a country controls.
D) The most important source of economic growth is the extent to which the government directly enters into decisions where research and development activities should be directed and who should be involved in research and development activity.
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