The money supply in the United States is backed by
A. silver.
B. gold.
C. platinum.
D. faith.
Answer: D
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Since resources are abundant, we do not have to make choices about their use
a. True b. False Indicate whether the statement is true or false
The U.S. market for interbank borrowing and lending is called the:
a. Money market. b. Eurodollar market. c. Federal funds markets. d. Real Goods Market. e. Primary market.
If the government regulates the price a natural monopolist can charge to be equal to the firm's average total cost, the firm has no incentive to reduce costs
a. True b. False Indicate whether the statement is true or false
Relative to a situation in which domestic firms do not compete with foreign firms, firms in countries that engage in free trade
a. can realize economies of scale more fully. b. have greater market power. c. experience larger producer surplus. d. All of the above are correct.