Paper money in the U.S. is:
a. fiat money
b. more than half of M2.
c. only partially backed by gold and silver in Fort Knox.
d. convertible into specie (gold or silver) at the holder's request.
a
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Which of the following statements is true of British colonies in Jamaica and Barbados?
A) Production was based on well-defined property rights and private ownership of resources. B) The institutions set up in colonies in Jamaica and Barbados were mostly inclusive. C) Participation of the natives in politics was greatly limited. D) The colonies were similar to the ones set up in North America.
Consider the market for cable television, a natural monopoly, shown in the figure above. If the regulator imposes an average cost pricing rule, the firm provides service to
A) 3.5 million households. B) 6 million households. C) 10.5 million households. D) 12.5 million households.
Tax credits are more beneficial to taxpayers than _____
a. exemptions b. deductions c. expenditures d. a and b e. a and c
Suppose a person defects from Cuba (a country that generally disregards the use of markets) to the United States and asks to see a market in action. Where would you take her? Did you give her a complete showing of this market?