What gives money value under a fiat system?
A. Fiat money is the same as Treasury bonds.
B. Fiat money is backed by gold.
C. Fiat money is also a commodity.
D. The supply of fiat money is controlled by the government.
Answer: D
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If the price of a Domino's pizza decreases while the price of a Pizza Hut pizza is unchanged, then probably the demand for Pizza Hut pizza:
A. increases as some people switch from Pizza Hut to Domino's. B. decreases as some people switch from Pizza Hut to Domino's. C. remains unchanged. D. will depend on what happens to the supply of Pizza Hut pizza.
Which of the following is always correct in an open economy?
a. S = I b. S = NX + NCO c. S = NCO d. S = I + NCO
Five of the 12 members of the Federal Open Market Committee (FOMC) must be _____.
(A) Bank presidents from Federal Reserve Districts. (B) From the Federal Advisory Council (FAC). (C) Appointed by the chair of the Board of Governors. (D) Elected by the Board of Governors.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.