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Genrish500 [490]
2 years ago
10

Following the 2007-2009 financial crisis, many people feared that Greece might leave the euro and resume using the drachma. If t

hat happened, the drachma might be worth less than the euro. When using fiat money like the drachma, the key to acceptance is that households and firms have confidence that if they accept drachma in exchange for goods and services, the drachma will not lose much value during the time they hold them. If sellers were not willing to accept the drachma in exchange for goods and services, the drachma would not serve as
Business
1 answer:
Nina [5.8K]2 years ago
7 0

Answer:

A medium of exchange

Explanation:

A medium of exchange is a system where it is used to facilitate the sale, purchase, trading of the products & services between the parties

Since in the given situation,  it is mentioned that the seller would not willing to accept the drachma in exchange of goods & services so here the drachma would not be served as a medium of exchange

hence, the same would be relevant

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Artyom0805 [142]

When one keeps paying only the minimum amount, they will find getting out of debt harder because:

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When a person pays the minimum balance that they are supposed to pay on a loan, they will be leaving a larger portion of money to be paid back.

This amount will accumulate interest such that the debt will keep increasing because the interest needs to be paid back as well.

In order to get out of debt faster, it is recommended that you pay higher than the minimum because this would reduce the amount that interest is charged on which means that you would owe less interest.

In conclusion, paying the minimum balance leads to more interest accumulating which makes getting out of debt difficult.

<em>Find out more at brainly.com/question/13711677.</em>

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2 years ago
Even when competitive firms are unable to calculate marginal revenue product directly, ______________________________ will push
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Answer:

Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.

Explanation:

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Also the suppliers, the potential employees, compete against each other for the best possible jobs.

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An agreement between two adults to pay $300 cash for a bicycle is an example of a contract that is
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