Author Question: The use of money as a unit of account: a. discourages specialization and division of labor. b. ... (Read 72 times)

MirandaLo · **on:** Jun 30, 2018

The use of money as a unit of account:
a. discourages specialization and division of labor.
b. inhibits the exchange of goods and services.
c. makes it difficult to compare the relative values of goods and services.
d. lowers information costs relative to barter.
e. relies on the existence of a double coincidence of wants.

Question 2

When a surplus exists in a market, sellers
a. raise price, which increases quantity demanded and decreases quantity supplied, until the surplus is eliminated.
b. raise price, which decreases quantity demanded and increases quantity supplied, until the surplus is eliminated.
c. lower price, which increases quantity demanded and decreases quantity supplied, until the surplus is eliminated.
d. lower price, which decreases quantity demanded and increases quantity supplied, until the surplus is eliminated.