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Use statements 1 and 2. to choose the correct answer. 1. Money has value because it is backed by the government. 2. Real esta
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Answer #1

Due to presence of HOMEWORKLIB POLICY, I am answering 4 questions.

Question 1.

Ans: Both 1 and 2 are false.

Explanation: Money value is the amount of goods and services it can purchase and money is the most liquid asset.

Question 2.

Ans: consumer nondurable goods.

Explanation: These are goods consumed by consumers for utility, not to produce something using them in production process.

Question 3.

Ans: A lighthouse.

Explanation: It is non-rival and non-excludable.

Question 4.

Ans: The rate of profits of Hyperion Coffee.

Explanation: This belongs to a single firm and not to aggregate economic health.

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