Which of the following is a correct reason for stating that the United States has a fiduciary monetary system? I. Our money is convertible to a fixed amount of silver or gold. II. Our money has a predictable value
A) I only
B) II only
C) Both I and II
D) Neither I nor II
B
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The expansion of capital that can occur in the long-run but not, by definition, in the short-run, means that the long-run supply is
a. perfectly horizontal while the short-run supply curve is upward sloping. b. sloping downwards while the short-run supply curve is upward sloping. c. less elastic than the short-run supply curve. d. more elastic than the short-run supply curve.
Which of the following best describes the four sector model?
(a) Y=C-I+G+M-X. (b) Y = C -I - G - X + M. (c) Y = C + I + G + M - X. (d) Y = C + I + G + X - M.
If the economy is in a recession, which point in the graph shown would likely represent this?
A. E1 B. E2 C. E3 D. E4
How is an indifference map like a topographic map?
Please provide the best answer for the statement.