Most modern banking systems are based on:
A. fractional reserves.
B. money of intrinsic value.
C. 100 percent reserves.
D. commodity money.
Answer: A
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The new growth theory
A) corrects for poor estimates of population growth. B) applies to only very poor, less-developed nations. C) eliminates technological advances from the growth picture. D) asserts that economic growth can be rapid but can only persist for a limited period of time. E) explains the source of technological advances.
Oligopolists almost always cooperate in making price and output decisions
a. True b. False Indicate whether the statement is true or false
Along a supply curve, product price and producer surplus are inversely related.
a. true b. false
When the interest rate is higher, the difference between the value of money today and tomorrow is smaller.
Answer the following statement true (T) or false (F)