With the invention of banking, one important aspect of money was that
A. banks have some discretion over the money supply.
B. banks have complete control over the money supply.
C. governments lost all control over the money supply.
D. individuals have no discretion over the money supply.
Answer: A
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The most likely cause of a hyperinflation is
A) central bank incompetence. B) the inability to finance government spending through taxation or borrowing. C) an acute shortage of natural resources. D) over-aggressive labor unions.
If the GDP in one year is greater than it was in the previous year, then economic growth must have occurred
Indicate whether the statement is true or false
If Francisco has been consuming 7 tacos per week at a consumer optimum, and the price of tacos falls, how will Francisco respond?
A. He will buy more tacos. B. He will save more income. C. He will buy more of everything. D. He will buy more of everything except tacos.
The principal objective of industrial regulation is to:
A. Increase product safety B. Promote improvements in the quality of life C. Protect the consuming public from the market power of natural monopolies D. Solve problems associated with industry such as the problems of water and air pollution