Which of the following properties of a commodity are related to is function as a medium of exchange a) Durability b) Unit of Account c) Homogeneity. d) None of the options is correct.
Which of the following properties of a commodity are related to is function as a medium of exchange
a) Durability
b) Unit of Account
c) Homogeneity.
d) None of the options is correct.
If an economy is at full employment it must be the case that
a) an increase of the money supply generates a deflationary process in the long run, while a reduction of the money supply brings along an increase in
b) an increase of the money supply generates an inflationary process in the long run, while a reduction of the money supply brings along an increase in GDP in the short run.
c) an increase of the money supply generates a deflationary process in the long run, while a reduction of the money supply brings along a drop in the GDP of the economy in the short run.
d) an increase of the money supply generates an inflationary process in the long run, while a reduction of the money supply brings along a drop in the GDP of the economy in the short run.
Step by step
Solved in 4 steps
