One of the main advantages of commodity money is:
a. It never loses value because it is valued in terms of fiat money.
b. Actually, there are no real advantages of commodity money.
c. It is backed 100% by the central bank guarantees.
d. It tends to fall in value as inflation rises and to rise as inflation falls.
e. It cannot be easily duplicated and therefore manipulated for political advantage.
.E
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Involuntary part-time workers are not working more hours due to
A) economic reasons. B) a lack of training and skills. C) an increase in the labor force. D) family reasons. E) educational commitments.
Substantial co-payments are typically not required as a part of the health care system in
A) the United States and Japan. B) Japan and Canada. C) Canada and the United Kingdom. D) Japan and the United Kingdom.
Under conditions of perfect competition, if profits are being made,
a. new firms are attracted into the industry. b. the market supply decreases. c. average revenue increases. d. new firms are excluded.
Figure 3-15
Refer to . Which area represents the increase in producer surplus when the price rises from P1 to P2?
a.
BCE
b.
ACF
c.
ABED
d.
AFEB