8) A useful characteristic of money is that money

Ais only printed by the US government.

Bis something that everyone wants.

Callows us to compare the values of goods and services.

Dis difficult to count accurately.

11) When increased raw material costs increase prices for consumers, the situation is known as _______ inflation. (C)

ALaw of Supply

Bcost-push

Cdemand-pull

Dmonetary

13) Which economic system features the government as the main economic decision-maker? (D)

AMarket

BGenerational

CTraditional

DCommand

14) Which of the following people is likely to benefit from inflation? (B)

AA person with low income

BA person who owes $200,000 on a loan

CA retired person on a fixed income

DA person who has a large savings account

20) Why would businesses supply more product at higher prices?

AConsumers are willing to pay more as supply increases.

BConsumers buy more with higher prices.

CBusinesses will increase production to make more profit.

DBusinesses need to sell more or they will waste money on shelf space.