If a society chooses fiat money as its money form, it
a. must guarantee its convertibility into gold
b. must worry about its liquidity
c. cannot make use of a banking system
d. must worry about controlling its quantity
e. must worry about controlling its demand
D
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The utilitarianism, Rawlsian, and benefits-received arguments all favor a ________ tax system
A) regressive B) progressive C) proportional D) value-added
Refer to the scenario above. If Joseph prefers more money to less, ________
A) he will not accept any offer made by Phillip B) he will always accept any offer made to him C) Phillip will offer the lowest possible amount to Joseph D) he will accept the offer only if Phillip pays him an equal share of the money
The adverse selection problem is most likely in which of the following occupations?
a. waiter/waitress b. barber c. college professor d. supermarket cashier e. tightrope walker
Under what market structure do we have strategic play?
A. Oligopoly B. Monopoly C. Monopolistic Competition D. Perfect Competition