Until 1933, the U.S. dollar was backed by the ______.
a. silver standard
b. gold standard
c. standard of living
d. word of the government
b. gold standard
You might also like to view...
In the figure above, if there is no Ricardo-Barro effect, the government has a ________ because ________
A) budget deficit; there is no Ricardo-Barro effect. B) balanced budget; there is no Ricardo-Barro effect. C) budget surplus; the SLF curve lies to the right of the PSLF curve. D) budget surplus; there is no Ricardo-Barro effect. E) budget deficit; the SLF curve lies to the right of the PSLF curve.
The most important of the Federal Reserve district banks is the:
A. Chicago bank. B. Boston bank. C. New York bank. D. San Francisco bank.
In a centrally planned economy, decisions are made by
A. private businesses. B. large corporations. C. top-level government officials. D. low-level government employees.
An increase in aggregate demand in the economy will have what effect on macroeconomic equilibrium in the long run?
A) The price level will fall, and the level of GDP will rise. B) The price level will fall, and the level of GDP will fall. C) The price level will rise, and the level of GDP will fall. D) The price level will rise, and the level of GDP will be unaffected.