The only major disadvantage of paper money is that it is hard to divide into smaller denominations
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is not a store of value?
a. Federal Reserve notes. b. Credit card. c. Debit card. d. Passbook savings deposit.
Some countries have experienced an extraordinarily high rate of inflation known as _____. This is usually due to governments using money creation as a way to pay for their spending. The revenue the government raises by creating money is called the _____
Fill in the blank(s) with correct word
The optimal level of employment for a monopsonist corresponds to the point where labor:
A. demand intersects labor supply. B. demand intersects marginal factor cost. C. supply intersects marginal revenue product. D. supply intersects marginal factor cost.
Refer to the figures above. Suppose the graphs represent the demand for use of a local golf course for which there is no significant competition (it has a local monopoly). P denotes the price of a round of golf and Q is the quantity of rounds sold each day. If the left graph represents the demand during weekdays and the right graph the weekend demand, how much economic profit will this profit-maximizing golf course earn over the course of a full seven-day week?
A. $3400 B. $4200 C. $2700 D. $3700