When economists say that money serves as a medium of exchange, they mean that it’s a. a way to keep wealth in a readily spendable form for future use. b. declared as legal tender by the government. c. a monetary unit for measuring and comparing the relative values of goods. d. a means of payment.

The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?

Adisadvantage of corporations is that shareholders have to pay on profits.

If a price increase from $5 to $7 causes quantity demanded to fall from 150 to 100 and vice-versa, what is the absolute value of the own price elasticity at a price of $7? note that the question is about the price point of $7, and not $5.