Suppose that a large group of local merchants donate 10,000 "3-R Dollars" to local schools, a colorful local currency that the schools can spend at a wide variety of participating local stores as a perfect substitute for dollars, now or in the future. So, 3-R dollars meet the requirements of money
Indicate whether the statement is true or false
true
You might also like to view...
What will happen to the exchange rate between the euro and the U.S. dollar if U.S. interest rates increase?
What will be an ideal response?
Refer to Figure 4-9. How much of the tax is paid by buyers?
A) $8 B) $5 C) $4 D) $3
You could borrow $2,000 today from Bank A and repay the loan, with interest, by paying Bank A $2,125 one year from today. Or, you could borrow X dollars today from Bank B and repay the loan, with interest, by paying Bank B $2,200 two years from today. In order for the same interest rate to apply to the two loans, X =
a. $1,853.55. b. $1,898.70. c. $1,948.79. d. $2,012.22.
If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:
A. restrict output to increase the price even higher. B. raise price and expand output to increase profit. C. lower price and expand output to increase profit. D. attempt to maintain this position because it is consistent with profit maximization.