The money supply in the United States is backed by
A) faith.
B) gold.
C) silver.
D) platinum.
A
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The price elasticity of demand for an exhaustible natural resource tends to
A. fall over time because extraction costs rise over time. B. stay constant over time because the resource’s price rises at a constant rate. C. rise over time because the resource’s rising price stimulates conservation and the development of substitutes. D. rise over time because resource extraction tends to become more efficient over time.
The natural rate of unemployment equals
A) structural plus frictional plus cyclical unemployment. B) structural plus frictional unemployment. C) the rate of unemployment we observe in any given period of measurement. D) the rate of structural unemployment.
A popular resort restaurant will maximize profits if it chooses to stay open during the less-crowded "off season" when its total revenues exceed its fixed costs
a. True b. False Indicate whether the statement is true or false
Refer to the below table. The marginal product of the third unit of the resource is:
A. 3
B. 4
C. 5
D. 6