A notable and unique feature of the colonial monetary system was
a. the use of minted silver coins.
b. the circulation of commodities as money.
c. the use of a widely accepted paper currency.
d. the development of checking accounts issued by private commercial banks.
c. the use of a widely accepted paper currency.
You might also like to view...
Discuss the similarities and differences between “Cap and Trade” and a “Pigou Tax” as they apply to correcting for externalities. Focus on how each affects the price paid by consumers, the price received by producers, and the amount of revenue received by the government. Also discuss the potential problems with achieving the efficient outcome under each system.
What will be an ideal response?
Suppose the majority of the shares of British Airways stock were sold to a firm in the United States. Assuming all else remains constant, this will
A) decrease the balance of the U.S. financial account. B) create a capital inflow in the United States. C) decrease foreign direct investment in the United States. D) increase net portfolio investment in the United States. E) decrease the balance of the U.S. current account.
How has the severity and duration of business cycles changed over time in the United States?
What will be an ideal response?
When analyzing a problem, an economist will attempt to
A. minimize the total cost of an action. B. maximize the net benefit of an action, and this occurs where the marginal benefit equals the marginal cost. C. maximize the total benefit of an action. D. maximize the net benefit of an action, and this occurs where the average benefit equals the average cost.