The first money issued by a United States' governmental authority were
a. bank notes issued by the United States Treasury 1766, 10 years before the founding of the Republic
b. silver certificates issued by the Federal Reserve on the eve of the American revolution
c. Continental Notes issued by the Continental Congress to finance the Revolutionary War
d. greenbacks issued by the Treasury to finance the War of 1812
e. gold certificates issued by the Federal Reserve during American revolution
C
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If the Federal Reserve lowers the required reserve ratio, people will end up taking out ________ because the interest rates ________
A) more loans; will rise B) the same number of loans; will not change C) more loans; will fall D) fewer loans; will rise E) fewer loans; are controlled by the economic conditions alone
If the dollar appreciates against the peso it means that U.S. goods become more expensive in Mexico
Indicate whether the statement is true or false
Quarterly GDP:
A. is always shown as a seasonally adjusted estimate for an annual rate. B. takes account of unpredictable seasonal patterns in order to guess at annual GDP. C. is adjusted for predictable, seasonal variation to predict what GDP would be if the economy continues at its current pace. D. is the only representation of GDP that economists view as credible.
Which of the following is one explanation as to why the aggregate demand curve slopes downward?
A) Decreases in the price level raise the interest rate and increase consumption spending. B) Decreases in the price level raise the interest rate and increase investment spending. C) Decreases in the U.S. price level relative to the price level in other countries lower net exports. D) Decreases in the price level raise real wealth and increase consumption spending.