Money: any asset that can be used
in conducting transactions.
A credit card is not moneyit is a
promise to pay.
A checking account IS money
also gold, silver, stocks, bonds, ect.
Microeconomics: Study of
individual choice under
scarcity, and implications for
prices and quantities i
Identify the letter of the choice that best completes the statement or answers the question.
The expression in the parenthesis before each question refers to the corresponding essay question.
(Q.1) In the Circular Flow of Economic Activ