Representative money is
a. accepted on faith.
b. found in M1 and M2 money measures.
c. today in the form of check able deposits.
d. redeemable for a commodity.
d. redeemable for a commodity.
You might also like to view...
In the economic way of thinking, we assume that central bankers act
A) selfishly. B) to promote projects which interest them. C) in the national interest. D) in the global interest.
A contingent contract can create production inefficiency; however, many principals accept this because
A) inefficiency is inevitable. B) monitoring is costless. C) risk is reduced. D) profit will increase as a result.
Claire is on her way to her job at a call center where she was planning on spending three hours. She can drop in and work any hour she wants to and earn $12 per hour. Her friend calls and invites her to spend the next three hours bungee jumping. Claire decides to go with her friend, which tells us Claire's opportunity cost of working for three hours is:
A. greater than $36. B. greater than $12. C. less than $36. D. less than $12.
Someone who has the desire to work but has no exceptional abilities and has not acquired the skills necessary for a well-paying job is likely to escape poverty completely
a. True b. False Indicate whether the statement is true or false