Which type of money has intrinsic value?
a. commodity money
b. fiat money
c. both commodity money and fiat money
d. neither commodity money nor fiat money
a
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A. Everything else remaining unchanged, what is likely to happen to the credit demand curve of an economy if:
i. businesses in the economy see scope for growth and are planning to expand production in the future? ii. households are pessimistic about future incomes? iii. the government is planning to borrow money from financial institutions for investment in infrastructures? b. Everything else remaining unchanged, what is likely to happen to the credit supply curve of an economy if firms tend to hold on to retained earnings instead of paying dividends?
The record of all transactions with foreign nations that involve the exchange of merchandise goods and services or unilateral gifts is called the: a. capital account
b. current account. c. balance of trade. d. balance of payments.
Inflation is a general and ongoing:
a. rise in the level of prices in an entire economy over time. b. lowering in the level of prices in an entire economy over time. c. rise in relative prices in an entire economy over time. d. lowering in relative prices in an entire economy over time.
In the above table, when output is 8 units, average total costs are
A. $38. B. $4.75. C. $3.50. D. $28.