Author Question: Stores need not accept your check but must accept currency because: a. currency is backed by gold. ... (Read 62 times)

rayancarla1 · **on:** Jun 30, 2018

Stores need not accept your check but must accept currency because:
a. currency is backed by gold.
b. checks are not money but currency is.
c. currency is legal tender, but checks are not.
d. currency is easier to handle.
e. currency is a medium of exchange, but checks are not.

Question 2

The socially efficient level of output is determined where:
a. marginal social cost equals marginal social benefit.
b. marginal private cost equals marginal social benefit.
c. average social cost equals average social benefit.
d. average private cost equals average social benefit.