To say that coins are "token money" means that:
A. their face value is less than their intrinsic value.
B. their face value is greater than their intrinsic value.
C. their face value is equal to their intrinsic value.
D. they are not legal tender.
B. their face value is greater than their intrinsic value.
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Compared to 1929, total output per person in the U.S. today is approximately ________ times larger.
A. 15 B. 2 C. 25 D. 5
The classical economists attacked the mercantilist propositions that
a. state action was necessary to direct the capitalist system. b. money had no intrinsic value. c. output was completely supply-determined. d. the wealth of a nation was closely linked to the country's stock of precious metals. e. Both a and d
When banks need to borrow funds at the end of the day to meet their legal reserve requirement, they
a. borrow the required funds from the Fed on the federal funds market b. borrow the required funds from other banks on the federal funds market c. ask for extensions on the deadline to meet their requirements, but pay a federal fundsrate as a penalty d. engage in open market operations on the federal funds market e. borrow from the government which reduces the government's public debt
The per se rule was an antitrust law guideline that emphasized ____ over ____.
A. price; quantity B. quantity; price C. behavior; size D. size; behavior