Money that has value because the government has declared it legal tender to pay debts:
a. currency
b. commodity money
c. representative money
d. fiat money
Answer: d. fiat money
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Relative to the yen, from 2012-2014 the U.S. dollar
A) depreciated due to an anticipated decrease in the interest rate differential and expectations of a lower future exchange rate. B) appreciated due to an anticipated decrease in the interest rate differential and expectations of a lower future exchange rate. C) depreciated due to an anticipated increase in the interest rate differential and expectations of a higher future exchange rate. D) appreciated due to an anticipated increase in the interest rate differential and expectations of a higher future exchange rate.
All of the following unambiguously contribute to economic growth EXCEPT
A) increase in human capital. B) increase in technology. C) increase in labor productivity. D) increase in government spending.
At various times, the United States has undergone the painful process of reducing military spending. Military bases from the Carolinas to California pleaded to be spared, citing huge job losses if they close. How can one rationally decide which bases to shut down, given the necessity of jobs?
The poverty line is
A. the percentage of households with income insufficient to provide an adequate standard of living. B. that level of income just sufficient to provide a family with a minimally adequate standard of living. C. the amount of money the poor earn from work. D. the amount of money that would have to be transferred to poor households to lift them out of poverty.