Answer:
people of wealth and power
Explanation:
this is an expense to spend
The government will offer a <u>$20 as tax</u> to achieve market equilibrium.
<u>Explanation:</u>
Socially optimum point occurs at that level of production which is the best point of production. There is optimum utilization of resources at that this point of production.
At the situation, when Private marginal cost is equal to the private marginal benefit, it occurs at a point which is above the socially optimum point. This means that at this level there is exploitation of resources. So the government should encourage the reduction in the level of production. For this it should impose tax on the production equal to the amount of $70-$50 = $20.
The answer is <span>D.To help discussions run smoothly</span>
Answer:
See below.
Explanation:
Looking at a car's price to see if we can afford is using the money function of unit of account. Unit of account is when we are able to determine the worth of the asset or transaction and see if we have enough value to exchange.
When we pay for groceries we are using money as a medium of exchange as we are exchanging groceries with another commodity that is cash.
When we save part of our wealth we are using money as a store of value. This signifies that the money value remains consistent over time and that money still holds economic value over time as opposed to other commodities that may perish.
When we compare prices we are using money as a measure of value. We are able to measure different product's worth in a uniform measure that being the money.
Hope that helps.