The paper currency used by the U.S. at the beginning of the Civil War was referred to as a demand note because:
A) the currency could be exchanged for gold on demand.
B) it was used to create the demand for various goods and services.
C) demand for the currency was kept constant over the entire period of Civil War.
D) it was limited in supply, and there was always an excess demand for the currency in the country.
A
You might also like to view...
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
The term "stagflation" is used to define an economic situation where there are adverse supply shocks which cause a fall in output but with increasing price level
Indicate whether the statement is true or false
The idea that tariffs should be imposed to protect new and developing industries is referred to as
A) the start-up argument. B) the infant industry argument. C) the incubator business theory. D) the new markets theory.
Perfectly competitive markets maximize the sum of producer and consumer surplus
a. True b. False