Soldiers in a World War II prisoner-of-war camp
A) used gold as a fiat money.
B) used cowrie shells as money.
C) used cigarettes as money.
D) used U.S. dollars as a commodity money.
Answer: C
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In the Modern Keynesian Model the short run aggregate supply curve slopes upward. How could one explain the shape of the upward sloping? short-run aggregate supply curve by only focusing on the capital? input?
What is the main cause of shifting the aggregate supply curve?
a. Changes in productivity b. Changes in amount sold c. Changes in amount demanded d. Changes in costs
Which of the following statements is true about the impact of an increase in the price of lettuce?
a. The demand for lettuce will decrease b. The supply of lettuce will decrease. c. The equilibrium price and quantity of salad dressing will rise. d. The equilibrium price and quantity of salad dressing will fall. e. both a and d are true.
The key reason that the bursting of the tech-stock bubble of the late 1990s had a mild impact on the macroeconomy is ________
A) rapid intervention by the central bank averted economic catastrophe B) the increase in tech-stock prices was driven by the economic fundamental of technological progress C) the technology sector is a rather small portion of the aggregate economy D) tech-stock prices had not been much influenced by credit availability