This topic contains a solution. Click here to go to the answer

Author Question: The function of money that allows individuals a method to compare the relative value of goods and ... (Read 76 times)

cagreen833

  • Hero Member
  • *****
  • Posts: 544
The function of money that allows individuals a method to compare the relative value of goods and services is
 
  A) liquidity. B) medium of exchange.
  C) store of value. D) unit of accounting.

Question 2

Why did the classical economists think that large-scale unemployment was not possible in a market economy?
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

blazinlyss

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

D

Answer to Question 2

The classical economists accepted Say's law, which indicated that desired expenditures will equal actual expenditures. The act of producing indicates one wants to buy other goods. A surplus or shortage in one market would soon be corrected because prices and wages were assumed to be flexible, and they assumed people could not be fooled by money illusion. They also assumed pure competition and that people were motivated by self-interest. Combining all these ideas, they concluded that full employment would be the norm.




cagreen833

  • Member
  • Posts: 544
Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review


nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Excellent

 

Did you know?

The most common treatment options for addiction include psychotherapy, support groups, and individual counseling.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

For a complete list of videos, visit our video library